This is set to be positive year for Aberdeen’s commercial market

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The political landscape and predictions are widespread over how the snap general election could affect the markets. With Scotland dealing with the negative impact on property investment and market confidence among some investors and developers because of the prospect of a second independence referendum.

However in Aberdeen, the atmosphere has largely driven by the fortunes of the oil and gas industry for the past two years, with the sector now showing largely positive signs. But not to say the wider political backdrop is of no concern, the UK’s vote to leave the EU immediately benefited Aberdeen’s oil and gas economy. The North Sea producers have profited from production costs being incurred in a depreciated sterling relative to a product sold in US dollars, as have local service companies pitching for business around the world conducted in a largely dollar-denominated market. With a growing confidence in the local air which is now impacting  itself in our property market.

The office sector was most impacted sector by the energy industries. The fortunes between 2013 and 2015 fluctuating and with the best quality space has maintained headline rents and interest from occupiers despite carrying a record level of voids. However, it must be said that much of the remaining stock has seen its day, being functionally or economically challenged or located on peripheral estates which have long been a unique feature of Aberdeen’s property supply.

In comparison, Aberdeen’s industrial market has held up reasonably well. During 2016, take-up was in line with the 10-year average with rents generally remaining stable although supply of second-hand stock has increased.

Investor appetite for Aberdeen is beginning to show signs of increasing. A North American investor, for example, acquired the Lloyd’s Register building in Prime Four Business Park for £41 million in February, pushing Q1 office investment levels to £49 million, more than the total volume recorded during 2016. Investors are seeking a ‘flight to quality’, looking for well let assets in the city, which may offer more attractive yields than elsewhere in the UK.

The good news is that office lettings in Q1 2017 were 181,000 sq ft (16,815 sq m), the highest quarterly take-up since Q3 2013. This clearly indicates that the local mood has moved up a gear, in part reflected by oil companies Total and Marathon committing to new leases and a number of large requirements circulating.

Further positive news comes with Hurricane Energy announcing a new find west of Shetland with estimated recoverable reserves of a billion barrels and small local independent Chrysoar announcing a $3 billion acquisition from Shell comprising 10 separate assets in the UK continental shelf with funding from US private equity firm EIG Partners.

The smart money is clearly backing a more positive future for Aberdeen and the property market is starting to reflect this.

 

This is set to be positive year for Aberdeen’s commercial market

Featured

The political landscape and predictions are widespread over how the snap general election could affect the markets. With Scotland dealing with the negative impact on property investment and market confidence amongst some investors and developers because of the prospect of a second independence referendum.

However in Aberdeen, the atmosphere has largely driven by the fortunes of the oil and gas industry for the past two years, with the sector now showing largely positive signs. But not to say the wider political backdrop is of no concern, the UK’s vote to leave the EU immediately benefited Aberdeen’s oil and gas economy. The North Sea producers have profited from production costs being incurred in a depreciated sterling relative to a product sold in US dollars, as have local service companies pitching for business around the world conducted in a largely dollar-denominated market. With a growing confidence in the local air which is now impacting  itself in our property market.

The office sector was most impacted sector by the energy industries. The fortunes between 2013 and 2015 fluctuating and with the best quality space has maintained headline rents and interest from occupiers despite carrying a record level of voids. However, it must be said that much of the remaining stock has seen its day, being functionally or economically challenged or located on peripheral estates which have long been a unique feature of Aberdeen’s property supply.

In comparison, Aberdeen’s industrial market has held up reasonably well. During 2016, take-up was in line with the 10-year average with rents generally remaining stable although supply of second-hand stock has increased.

Investor appetite for Aberdeen is beginning to show signs of increasing. A North American investor, for example, acquired the Lloyd’s Register building in Prime Four Business Park for £41 million in February, pushing Q1 office investment levels to £49 million, more than the total volume recorded during 2016. Investors are seeking a ‘flight to quality’, looking for well let assets in the city, which may offer more attractive yields than elsewhere in the UK.

The good news is that office lettings in Q1 2017 were 181,000 sq ft (16,815 sq m), the highest quarterly take-up since Q3 2013. This clearly indicates that the local mood has moved up a gear, in part reflected by oil companies Total and Marathon committing to new leases and a number of large requirements circulating.

Further positive news comes with Hurricane Energy announcing a new find west of Shetland with estimated recoverable reserves of a billion barrels and small local independent Chrysoar announcing a $3 billion acquisition from Shell comprising 10 separate assets in the UK continental shelf with funding from US private equity firm EIG Partners.

The smart money is clearly backing a more positive future for Aberdeen and the property market is starting to reflect this.

 

Gazumping and sealed bids return to central London!

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The number of buyers looking for “Brexit bargains” in areas such as Chelsea and Marylebone has risen by as much as a third in recent weeks as claims by London estate agents.

In the sub-£1 million bracket the interest is at the most intense where stamp duty rates are lower. With this also being the case in the £3-£5 million bracket, the Chinese buyers extremely keen to invest.

According to the estate agents Savills, prices have fallen by an average of 12.5 per cent in the prime central London locations. This was since the peak in late 2014 when the former chancellor George Osborne increased stamp duty on properties over £1 million.

Since the EU referendum last June value of the pound against the dollar fall of, in turn means that the London market is now around 30 per cent cheaper for foreign buyers and as much as 50 per cent less expensive for some individual properties.

“We’ve been through a torrid time but Brexit has saved the property market at the higher end. I am delighted to say we have agreed £30 million of sales in the past two weeks. We had a run of seven sales in the £3 million to £5 million range and are now short of stock.” Said Managing director of agents Glentree International, Trevor Abrahmsohn

Buying agent Jo Eccles, of Sourcing Property, said: “The market is definitely picking up across all price brackets. We have been bidding on a family house in Knightsbridge for just under £5 million, there is competition from another buyer and the vendor has this afternoon asked to go to sealed bids.We have seen nearly 35 per cent increase in the past three weeks in the number of buying clients we are representing and a 60 per cent increase in serious enquiries from potential buying clients over the past two weeks.”

The managing partner of agent Black Brick, Camilla Dell said: “We are also seeing a return of competitive bidding across the spectrum, particularly on property that is priced correctly in line with the current market. We have also seen a return of gazumping. We recently secured a flat in Canary Wharf for a client at £1.48 million. Our initial offer of £1.44 million was accepted but we were gazumped by another buyer who offered £1.5 million. Luckily, we managed to re-agree the sale at the original asking price as our client was a cash buyer.”

Between central London and the suburbs the gap has been closing, where there have been double-digit annual rises in prices over the past two years has been another factor.

Garrington Property Finders Jonathan Hopper said “Prices in the outer boroughs will never catch those in prime London, but the boom in the ’burbs is narrowing the gap with the flagging centre — and making properties of all sizes in desirable postcodes appear better value.”

These figures can only suggest that the Help to Buy scheme is helping those who wish to get onto the property ladder.

Head of lending at Mortgage Advice Bureau, Brian Murphy stated that the findings suggest that mortgages at 90% and 95% LTV are being used responsibly through Help to Buy to give first time buyers an option that was in danger of becoming extinct.

“The Bank of England and government are coming under increasing pressure to take the heat out of sectors of the housing market, but writing off a scheme that is aiding those who most need it – predominantly first time buyers with modest levels of deposit – is not the way to go about it.

Lending standards have been carefully monitored ever since the recession, and the new mortgage rules [under the Mortgage Market Review] mean that scrutiny of borrowers’ finances remains rigorous and thorough with careful consideration given to the impact of future interest rate rises.

Providing this continues, there is a strong argument to support the availability of mortgages with far more realistic deposit requirements than has become the norm in an increasingly lop-sided housing market, especially for aspiring first-time buyers.”

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Property for sale in St Helier

Operating out of an elevated place a ground floor 2 master bedroom apartment having a study/3rd bed room which is light and very large, and has already been ompletely renovated throughout. The house has stunning sea sights to Elizabeth Castle plus St Aubin`s Fort. Additionally there is a large filled with sun patio and lawned garden region, garage plus parking. Essential view





Entrance Patio
Big cupboard.

Hall : 13’10″ (4. 22m) times 16’4″ (4. 98m) Greatest extent

Utility
With plumbing for washer. Housing olive oil fired central heating boiler.

Kitchen/Breakfast Room — 9’7″ (2. 92m) times 13’2″ (4. 01m)
Good range of high and low stage kitchen models with ample work floors. Stainless steel kitchen sink unit. Integrated Siemens dishwasher. Built in Siemens oven. Integrated Siemens microwave. Built in Siemens fridge/freezer. some plate ceramic hob with extractor above.

Seated Room — 24’7″ (7. 49m) x 14’11″ (4. 55m)
Large photo window along with sea opinions. Door to large filled area in addition to garden.

Bedroom 3/Study – 10’0″ (3. 05m) x 10’0″ (3. 05m)
Door to small rear made area.

Bedroom just one – 26’5″ (8. 05m) x 14’0″ (4. 27m)
Moving doors in order to decked in addition to garden area.

En-Suite
Large

SOURCE: View the St Helier property

Property for sale in St Helier

A chief location regarding Town, West Park, Typically the Waterfront as well as the Harbour Entrance to Jersey, this Visitor House will be deceptively roomy with its backside boundary being on Lewis Street.
The non qualified staff home to the back of the guests house, specifically 3 Daisy Villas, Lewis Street, offers both personnel accommodation and additional income for that proprietor.

The home consists of: L. Q. A new. Three Superstar G. A. RatingRegistered with regard to 24 as well as children within 12 En-Suite Rooms. one Family Room (double and a couple of single beds), 2 Doubles, 8 Twin/Doubles (zip in addition to link beds), 1 Solitary. All rooms, T. Versus. and tea/coffee making services. Well installed, furnished plus equipped.
Both day bedrooms and bedrooms tasteful and as new through. Residents` Lounges. Residents` Dining/Breakfast Room. Nicely equipped stainless-steel kitchen with designated job stations. Kitchen area Prep/Staff Morning meal Room. Office. Laundry Space. Trades over a Bed and Breakfast basis all year round. A vibrant business along with good buying and selling accounts. Business owned, to become sold through Share Transfer – Kensington Hotel Limited- to include all fixtures, fixtures, furnishings plus equipment to be able to trade. Joint Sole real estate agent with Frank LuceProperty Reference 2674

Notice
Take note we have not necessarily tested any apparatus, fittings, fittings, or even services. Fascinated parties should undertake their own investigation to the working order of these things. All measurements are estimated and photographs

SOURCE: View the St Helier property

Property for sale in Francis Street, Off La Colomberie

This specific fine twice fronted classical period house, has recently already been fully rebuilt and superbly restored for an excellent regular. Of traditional note, this specific interesting traditional town house continues to be designated by the Planning Expert as a `Listed Building` The home now has an excellent selection of accommodation, including 5 rooms, 3 bath rooms, a modern installed kitchen, washing room in addition to 2/3 wedding party rooms. The house is currently utilised on a `home with income` basis and it is understood to generate in excess of £38, 000 per year. A feature from the property is surely an attractive, sunny rear courtyard garden.





Ground Floor

Pathway – 22’1″ (6. 73m) x 4’9″ (1. 45m)
Utilized via original panelled hardwood front door. Initial balustraded staircase to top floors. Oak flooring. Portion glazed door to rear courtyard back garden area.

Sitting Space – 14’10″ (4. 52m) x 10’11″ (3. 33m)
Open up fireplace with Victorian fireplace. 2 home windows. Exposed maple floor. Open arch in order to…

Examine – 14’4″ (4. 37m) x 9’6″ (2. 9m)
Exposed oak floor. Part glazed door in order to rear courtyard garden location. Non useful fireplace.

Dining Room — 15’2″ (4. 62m) times 11’2″ (3. 4m)
Expose

SOURCE: View the Francis Street, Off La Colomberie property

Property for sale in St Brelade

Strategies passed to get a stunning 7, 000 sq ft advanced contemporary home in an exclusive, quiet plus tucked away area in Street Brelade, by having an elevated position and ocean views. For further information make sure you contact our own office.

Notice
Take note we have not really tested any kind of apparatus, fittings, fittings, or even services. Fascinated parties should undertake their particular investigation to the working buy of these items. All dimensions are approx . and photographs presented to guidance just.

SOURCE: View the St Brelade property

Property for sale in St Helier

Deceptively spacious dwelling situated within just walking distance of area and all facilities. Consisting of a few double bedrooms, house bathing room, wetroom, kitchen/breakfast room, large lounge in addition to separate living area.




Hallway – 15’9″ (4. 8m) by 5’4″ (1. 63m)

Sitting Room — 15’7″ (4. 75m) by 12’2″ (3. 71m)
Woode floor coverings. Feature fire place with electrical inset open fire. Ceiling Increased. Arch in order to…

Dining area – 14’10″ (4. 52m) x 10’4″ (3. 15m)
Solid wood flooring. a couple of large safe-keeping cupboards. Built in drawer plus cupboard product. Door in order to stairs in order to bedroom three or more. Panel doors to…

Kitchen/Breakfast Area – 17’9″ (5. 41m) x 9’6″ (2. 9m)
Integrated breakfast bar. Good array of high and low degree kitchen models. Stainless steel kitchen sink unit. 4 ring hob and financial institution. Built in oven. Built in fridge and fridge. Plumbing with regard to washing machine. Ceramic floor. Door to again entrance.

Wetroom
Fully tiled. Shower add-on. Low flush w. chemical.

Master bedroom 3 – 12’0″ (3. 66m) x 11’6″ (3. 51m)
Built in closets.

Very first Floor

Obtaining
Storage space cupboard.

Bedroom a couple of – 10’7″ (3. 23m) x 14’10″ (4. 52m)
Cast iron fireplace. Built in closets.

SOURCE: View the St Helier property

Property for sale in St Helier

This specific modern in addition to appealing second floor a couple of bedroom/2 bathing room apartment, instructions a magnificent aspect over the complete width associated with St Aubin`s Bay also to Elizabeth Fort and features a very large balcony to the south elevation. This particular prestigious residence development is incredibly conveniently situated to main amenities and it is within comfy walking range of the city centre. Amenities of the house include a exclusive storeroom, secure basement garaging for 2 vehicles and a traveling lift.




Pathway – 10’0″ (3. 05m) x 8’7″ (2. 62m)
Associated with spacious amounts. Built in services closet, possessing pressurised household hot water system and A. D. V electrically fired heating system. Doorway to power room and double beginning glazed doors to…

Living Room & Kitchen : 22’11″ (6. 98m) by 23’2″ (7. 06m) Maximum
Open Plan. Large picture windows opening on large balustraded balcony. Panoramic views more than St Aubin`s Bay. Array of ceiling inset low wattage lighting.

Kitchen Area – 15’0″ (4. 57m) by 10’3″ (3. 12m)
Excellent array of good quality fixed base plus wall wardrobe units, with feature polished black granitic worktops. Worktop inset one 1/4 pan sink and drainer device. Range of high quality Miele appliances include,

SOURCE: View the St Helier property

Property for sale in St Martin

A strong bungalow house situated on the heights previously mentioned Rozel.
This particular delightful home constructed in 1971, offers incredibly comfortable plus spacious holiday accommodation comprising huge master suite, 3 further rooms and 2 bathrooms.
You will find 4 wedding reception rooms in addition to conservatory.
Additionally, it enjoys the added benefit of a one bedroom personnel flat.
Outdoors there is considerable Yorkstone provided terracing by having an abundance regarding well established shrubs and vegetation.
Some remote sea sights towards the People from france Coast can be seen.

Entrance Hall:


15`7 times 13`0With hard wood panelled front door with glazed side house windows, decorative coved ceiling.
Dual mahogany doorways to… Sketching Room:


24`6 x 20`4With functional Adam style open fireplace with inset gas fire, marble inset and hearth.
2 pairs France doors in order to paved back terrace.
French door to be able to sun space, double mahogany doors to be able to… Dining Room:


26`0 x 10`10With built in arched display racks with drawers.
Sliding double glazed door to back terrace.
Lustrous maple flooring.

Door in order to kitchen. Examine:


14`3 x 12`0With built in display racks and cabinets.
Door to be able to… Sun Room:


15`6 by 14`4With sliding doors to… Conservatory:


15`9 x 11`0With door to be able to front outdoor patio. Master SuiteBedroom:


25`4 (into bay) x 17`11With function fireplace along with inset granitic hearth, selection of built in wardrobes and bookshelves, door to be able to… Dressing

SOURCE: View the St Martin property

Property for sale in St Helier

A sensational 3rd flooring marina apartment situated in typically the prestigious progress Castle Quay.
The residence enjoys fabulous west dealing with views from the marina, At the Castle in addition to St Aubin`s Bay.
There are 2 en-suite bedrooms along with quality bathrooms and fixtures. The open up plan dwelling area includes sitting space, dining region together with high quality fitted kitchen area.
There is also a individual utility area.
2 tiny balconies missing marina and 4 subterranean parking places in safe lock-up garage area.
The house is also fully fitted with top quality furniture plus fittings.

The accommodation comprisesEntrance Hall:


17`10 x 5`2Glass panels entry doors to movie entry cell phone.
Amtico floors. Main Bedroom:


12`1 times 11`11Built in wardrobes. En-SuiteLow flush w. c.
Rinse hand pot.
Extractor.
Bath cubicle.
Fully tiled surfaces and ground.
Mirrored case. Bedroom 2:


12`5 by 11`8Fitted armoires and drawers. En-SuiteLow flush w. chemical.
Wash palm basin.
Bathroom with bath attachment.
Around the cabinet.
Fully tiled walls and ground. CloakroomLow get rid of w. d.
Wash hand basin.
Big picture mirror.
Extractor. Kitchen/Sitting Room:


30` x 24 x 10Open plan.
Characteristic fireplace.
Obscured built in Plasma screen.
Integrated cupboard. Doorway to BalconiesKitchenRange of high plus low level kitchen area units.
Marble work surfaces.
Built in twice oven.
Built in Miele coffeemaker.
Built in microwave.
Built in refrigerator and fridge.

SOURCE: View the St Helier property

Property for sale in St Helier

Ate new `state of the art`
roomy 4th floor, 3 master bedroom, 3 bathing room luxury house, enjoys truly magnificent continuous south dealing with views within the marina, At the Castle and sea.
The particular apartment is set within this powerful new lake shore development, which often upon last completion may have
`on the doorstep` cafe, cafe and comfort store buying facilities and also direct access for the yacht riva.
The holiday accommodation opens to a large complete length filled with sun
balcony, using the benefit of spectacular marina in addition to sea views.
The roomy open strategy `corner` designed living room/kitchen complex, combined with 2 from the bedroom rooms, enjoy complete access to this facility plus the accommodation enjoys the added benefit of an ac installation along with facility with regard to both cool and hot air circulation.
Outwardly there is a vicinal courtyard garden area with basement stage, an electrically gated garage facility with 2 personal car parking places. -A GENUINELY SUPERB PLUS SECURE HIGH-CLASS HOME-

The accommodation briefly comprisesReception Corridor:


18`0 by 9`6Double portion glazed doors open before the living room.
`Walk in` store cupboard. CloakroomCeramic tiled flooring.
Wall tiling.
Contemporary whitened suite regarding concealed flush w. chemical., and walls hung pot. Living Room:


22`5 x 17`10This bright plus spacious living
location, commands

SOURCE: View the St Helier property

Property for sale in Grouville

Suite Particulars Simply

Confidential Listing This many prestigious family members residence continues to be totally refitted without respect to price, to provide a genuinely exceptional residence, offering a superb range of extravagantly spacious and incredibly luxurious 6 bedroom lodging. The many noteable features of this particular fine home, include a really stunning 42` open strategy family kitchen/living room complicated, whilst outwardly within the gorgeous gardens, there exists a superb heated up swimming pool together with extensive natural stone paved surrounding leisure terraces enjoys a highly elevated plus convenient primarily rural place, some 2 miles for the east from the capital town of Street Helier as well as the property instructions wide nation and distant sea opinions. The entire property is most meticulously presented and supplies an outstanding chance for the critical purchaser to acquire a truly excellent residence.




Ground Floor

Conservatory Type Entrance Lobby – 12’10″ (3. 91m) x 12’0″ (3. 66m)
Along with extensive array of attractive oak built in cupboards. Access to…

Wedding party Hall : 40’0″ (12. 19m) by 10’1″ (3. 07m)
Of wonderful proportions with feature polished oak floors plus large stairwell location.

Cloakroom

Library/Study – 15’0″ (4. 57m) by 14’10″ (4. 52m)
Extensive fitted book/display shelves. Wide gulf window missing

SOURCE: View the Grouville property