A leading figure in the Midlands commercial property industry is celebrating his new company’s first anniversary with a flurry of transactions.
Larkstoke Properties’ managing director Tim Hurdiss said the company was busy throughout 2012 despite the tough market conditions and 2013 is already promising to be another successful year.
Tim, chairman of the Midlands Region of the Investment Property Forum, said he believes the bottom of the market has been reached and there are positive signs of increased activity.
Much of the first years’ success has centred upon the major regeneration scheme of St Georges in Birmingham’s Jewellery Quarter. Terms for a sale of part of the site were agreed with the Birmingham Assay Office who have subsequently secured planning permission for a brand new state of the art Assay Office, one of only four in the UK, construction work on the new building is due to start this summer.
Also the St George’s scheme secured Enterprise Zone status with discussions ongoing regarding the potential for public sector assistance. In addition lettings were secured with two occupiers in the existing buildings. In addition negotiations and discussions have recently commenced with companies in respect of some very significant proposals, albeit they are still at an embryonic stage.
Commenting on the recent successes at St Georges, Tim Hurdiss said: “Whilst we’ve seen a couple of really important transactions take place during the last year we’re very hopeful of being able to announce even more exciting news in the very near future.”
Larkstoke is also appointed by the Deeley Group to deal with its extensive property portfolio with recent transactions including:
· The sale of a ground rent portfolio,
· Sale of an investment property in Leamington Spa
· Letting of over 150,000 sq.ft. of warehouse accommodation
· Initiation of numerous rent reviews and lease renewals
Tim said: “It has been a very interesting and exciting year following the launch of Larkstoke. I have been fortunate to have been kept busy with an enormous variety of work, some of which has involved a continued and close working relationship with former colleagues.”
Larksoke has also successfully negotiated an option agreement for a private landowner on a major residential scheme in Oxfordshire together with advising Mole Valley District Council on its land holdings. The company is also working with various funders and actively considering a number of development and investment opportunities.
The year saw Tim take over the chairmanship of the Midlands Region Investment Property Forum. The IPF has continued to grow in numbers culminating in the principal property dinner in the Midlands in October attended by 600 people.
Tim added: “I cannot believe where the time has gone. It has been great to see a number of the projects and properties I was involved in at Deeleys come forward with sales and/or lettings achieved, especially the Birmingham Assay Office deal.
“Coupled with entering into new markets in terms of the work with Mole Valley Council together with the sale of an option on behalf of a private landowner it’s been quite a year. Also it has been great to be reappointed as Chairman of the IPF in the Midlands, with the speech by John Prescott at the annual dinner being a memorable experience!”