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WHR Property Consultants LLP

Office Consultancy

The Manchester Offices Agency Team at WHR provides pre-eminent advice to clients whether it is on behalf of property owners, occupiers or investors.

We address the important aspects involved, cutting out 'satellite' issues focusing on the commercial reality of the situation and navigating a route to the specific objectives of our clients.

The Manchester Offices Agency Team's experience reaches further than just those highlighted above and offers unrivalled advice on the following key areas:-

  • Leasehold disposal and letting of vacant office accommodation
  • New office development
  • Refurbishment of existing office premises
  • Proactive asset management and investment
  • Tenant representation
MEET THE TEAM

Acquisition Service

The WHR Office Consultancy Team has an in depth understanding of the importance of acquiring the right property. WHR have acted for a wide range of companies across numerous business sectors.

Acquiring premises is essential for the efficient running of any business. Property is our core business and our acquisition service allows you to focus on yours. There are a number of important factors to be considered when acquiring new premises. We appreciate that property costs are high on the corporate agenda, however, the following elements are important to ensure that your occupation is secured on the most appropriate terms based on the prevailing market conditions, ,business sector and commercial objectives of the client

Rent - Purchase Price Incentives - (Level and Structure)

  • Terms
  • Alienation
  • Flexibility
  • Alterations
  • Service Charge
  • Timescales
  • Dilapidations
  • The acquisition process involves numerous stages, all of which are linked, examples being as follows:-

    Stage 1

    Determine current acquisition criteria and understand existing commitments.

    Stage 2

    Circulate the requirement to the Office Market and collate relevant and applicable options. Include off-market options.

    Stage 3

    Determine options to be considered and inspect options.

    Stage 4

    Identify preferred options and ensure the acquisition criteria fits the shortlisted properties.

    Stage 5

    Negotiate, agree terms and liaise with solicitors to finalise the contract

    Stage 6

    Due Diligence – undertake to assist in the due diligence process to ensure our client enters into commitments having satisfied that the premises are as expected and to minimise any nasty surprises at a later stage.

    Complete lease and undertake fit-out works.

Leasehold Disposals

WHR's Office Consultancy team provides expert advice on various aspects of the leasehold occupational market. We create opportunities and enhance value through forward thinking and we take a proactive and innovative stance on all aspects of the letting campaign. WHR drive transactions forward and understand the importance of protecting, creating and enhancing our clients interests. This is achieved by creating new rental levels and negotiating favourable lease terms.

WHR are passionateabout innovative marketing initiatives and are keen to lead clients forward with bespoke campaigns - seeking to break new ground in innovation and quality of presentation. We believe there is no such thing as a 'bad marketing campaign' or a 'bad brochure' - there is however a 'bad brief'.

The enthusiasm and success of the Offices Department is highlighted by the fact that since creation WHR has consistently been involved in 25 - 30% of all City Centre lettings, as well as being particularly active within the markets in which we specialise.

Significant leasehold disposals include:

  • Media City, The Quays, Manchester
  • The Victoria, Salford Quays
  • Belvedere, Manchester City Centre
  • 9 Portland Street
  • The Lexicon, Mount Street
  • Voyager, Manchester Airport
  • Ship Canal House, King Street
  • 82 King Street

Freehold Disposals

WHR's Office Consultancy team provides expert advice on a variety of freehold occupational markets and have successfully completed a variety of high profile transactions. The Office Team maximises opportunities through forward thinking and takes a proactive and innovative stance on all aspects of the disposal campaign.

WHR provide accurate advice on achievable and realistic freehold values and implement bespoke marketing campaigns to realise our clients asset value and maximise capital receipt. WHR have excelled in this market through offering intimate knowledge of the highly desirable owner-occupier market.

WHR feel passionately about innovative marketing initiatives and are keen to lead clients forward with their bespoke campaign - seeking to break new ground in innovation and quality of presentation.

WHR have experience in disposing of a wide variety of freehold product:

  • New Build Self-Contained Offices - Oak Green, Handforth
  • HQ offices - Turin Court, Cheadle, Stockport?
  • Refurbishment/Redevelopment - 9 Portland Street, Manchester City Centre
  • Courtyard Schemes - No 1 Oxford Court, Manchester City Centre

Development consultancy /
startegic advice

Understanding the true potential of a development site and realising the latent value of existing premises/sites is a unique skill few possess.

WHR have consistently provided pre-eminent advice to Funds, Property Companies, Joint Venture Partnerships, Local Authorities, Private investors In respect of:-

  • Complex as well as straight forward site assembly
    - Predominantly within the City Centre as well as -
    - Suburban Sites
  • Development Appraisal/Viability Appraisal of Opportunities
  • Site/Property Purchase
  • Masterplanning of -
    - Business Parks and -
    - Mixed use schemes
  • Procurement of implementable planning permissions.
  • Selection and appointment of appropriate Joint Venture Partners.
  • Selection and appointment of appropriate professional teams for the task in hand.
  • Chair design team meetings and value engineering projects when appropriate.
  • Define the correct level of specification for "new build" and "refurbishment" opportunities. WHR does not "over specify"
  • Critique the competition , ensuring clients projects are superior to the "market" competition.
  • Market analysis - we provide market research along with analysis and opinion from an experienced market facing team.
  • Comprehension of "Rights of Light" (Actionable and Injunctable) , Over sailing, and Party Wall Act issues and their commercial impact.
  • A deep rooted understanding of the impact of "good" and "lacklustre" design" on occupational and Fund requirements.
  • Pre-letting advice.
  • if WHR don't believe in the commercial opportunity or if it isn't commercially viable -we will advise accordingly.

Refurbishment consultancy

WHR has a proven track record for guiding clients in delivering high quality refurbishment schemes as a result of their pre-eminent advice relating to specification:

  • The Pinnacle, King Street
  • 9 Portland Street
  • The Lexicon
  • 82 King Street
  • Forty Four Peter Street
  • Freetrade Exchange, Peter Street
  • Thomson House, Birchwood Park
  • The Pavillion, Towers Business Park
  • The Offices team provide quality advice over the appropriate level of specification in relation to the rental / freehold values achievable.

WHR work as part of the design and construction team to deliversuccessful solutions within set budgets. Our main aim is to enhance our clients asset value by creating a lettable and sustainable product. WHR know what lets!

WHR's overriding interest is to ensure that our clients have the best advice available and therefore we understand the importance of assembling the correct professional team for the task in hand.

WHR advise and lead our clients in the appointment of a wide variety of professional disciplines, to include:-

  • Project Managers
  • Cost Consultants
  • Structural Engineers
  • Mechanical & Electrical Engineers
  • Architects
  • Solicitors
  • Planning and Conservation Specialists
  • Rights of Light Specialists
  • Contractors
  • Actuaries / Accountants
  • Marketing / Design Agencies
  • Joint Letting Agents
  • Space Planning Consultants

Market Research

Not only does WHR transact in the office market on behalf of clients but also monitors and collates data to provide research and insight into market trends that assist our clients in making important business decisions on:

  • Current demand
  • Rental trends
  • Investment demand
  • Investment transactions
  • Value and yield trends

CASE STUDIES

Freehold Disposals

Acquisition Service

Basil House, Portland Street

WHR were instructed to sell this vacant office building on behalf of a charitable organisation. WHR successfully negotiated the sale of the building in early 2014 to a residential developer as the building lent itself to alternative use. This property is approximately 21,000 sq ft arranged over 5 floors and the eventual sale price was in the region of £1.7m.

Richmond House, Sale

WHR were instructed to sell this office building in Sale in South Manchester. The property is 5,000 sq ft with 23 car parking spaces and was brought to the market in a tough economy which required an innovative marketing approach. The building was again sold at the beginning of 2014 within a swift timescale for a price in excess of £130 per sq ft, which is a higher figure than any other disposal in South Manchester in 2014.

CASE STUDIES

Acquisition Service

Trafford Park, Manchester

Client: Missguided Ltd.
Size: 42,000 sq ft
Description: Acquisition of freehold headquarters office facility
Date: SFebruary 2015

Newgate House, Rochdale

Client: Tetrosyl
Size: 54,000 sq ft
Description: Acquisition of centrally located headquarters building
Date: October 2015