All the news
Sale of Wet 'n' Wild Waterpark - North Shields
Acting on behalf of Alternative Income REIT, Wet 'n' Wild in North Shields has been sold to a Serco group subsidiary for £3.2 m.
Steve Smith, chairman of Alternative Income REIT, said: "We are pleased to have completed the disposal of the Wet 'n' Wild water park asset at a significant premium to acquisition cost and book value, enabling the group to recycle the proceeds into an accretive investment in short order."
Simon Bland, managing director of Mason Owen, added: "We were delighted to work with the team at M7 on the sale of the water park for Alternative Income REIT and achieve a successful outcome that generated a positive uplift on the purchase price, a premium on the book value and an attractive six per cent exit yield even during such challenging times that was ahead of the acquisition yield."
Major Investment Purchase ....
Acting on behalf of Legal and General (LGIM Real Assets) Mason Owen have advised on the acquisition of India Buildings in Liverpool city centre for £125 million.
The Grade II Listed building comprises 500,000 sq ft and is a landmark of the city. It is currently undergoing major refurbishment works in advance of occupation by HMRC in 2019. The Government department will occupy 270,000 sq ft for 3,500 staff.
For full details of this transaction and all matters relating to property investment please contact:
0151 242 3041
Completion of Quest, Liverpool
We are pleased to announce the completion of works on Quest hotel Liverpool. The hotel is the first UK property for the 170-strong portfolio of Australian aparthotel operator Quest.
Mason Owen was instrumental in letting the 2nd to 6th floors of 58-72 Church Street to the Australian operator on behalf of retained clients, Vabeld. We have also helped to manage the yearlong £10m renovation process alongside Quest, WYG and Grahams who were the main contractor.
The apartment hotel complex comprises 100 serviced apartments, reception, conference room and gym and is centrally located next to Liverpool One.
Simon Bland, managing director, Mason Owen said: ‘Quest is a brilliant addition to the Liverpool hotel stock – it offers design-led, comfortable accommodation at an accessible price in arguably the best location in the city for both corporate and leisure visitors. The city continues to enjoy a consistently strong hotel demand - just one of the many reasons Quest chose Liverpool to open its inaugural UK hotel.’
He added: ‘The trend for the aparthotel model is propagating quickly globally as hotel users are looking for something that sits in between a traditional hotel offering, with onsite service and facilities, combined with the self-catering nature and privacy of an Airbnb or traditional apartment let. We expect to see operators like Quest enjoy strong occupancy levels.’
New Iceland Food Warehouse for North Wales
A new Food Warehouse opened on 1st October occupying 12,500 sq ft next to Home Bargains.
This is a redevelopment of the former Kwik Save neighbourhood centre which was vacant for several years and is a positive endorsement for the retal prospects of Mold.
For further information please contact Peter Burke on 0151 242 3140 or firstname.lastname@example.org
New TSB opens on Lord Street Liverpool
81/83 Lord Sreet Liverpool L2 6PG
TSB have relocated on Lord Street to new flagship premises adjacent to H&M.
The premises extend to approximately 390 sq m with 100 sq m in the basement.
The redevelopment of this space for TSB is part of the landlords (Vabeld) continuing investment on Lord Street following the refurbishment of the former BHS for H&M.
Vabeld will commence works in the new year for the adjoining space.
Vabeld was represented by Mason Owen and TSB were represented by CBRE.
Mason Owen Appointed as Property Managers for Exchange Flags
Having assisted on the purchase of the £68m of Exchange Flags for Ashtrom Properties UK. Mason Owen announced today, it will property manage the city’s landmark building which houses premium office space, retailers and restaurants.
Exchange Flags is one of the thirty-seven current Liverpool properties, totalling over £250m, manged by the Mason Owen team. The team manage a national portfolio valued at over £600m.
Mark Williams, director of Asset Management, Mason Owen, leads the 20-strong property management team. He said: ‘Exchange Flags is iconic within the city, not only as brilliant office space, but increasingly a smart place for leisure businesses and cultural organisations to position themselves. We’ll continue to make improvements to the space, making sure the offices offer an innovative, modern place to work to fill the demand in the city. Also, by maintaining and building a unique leisure offering - in the incomparable Neoclassical surroundings.’
He added, ‘Exchange Flags is an important component of our national portfolio, and an exciting instruction for the team. We look forward to the opportunity to further showcase our ability to manage high profile multi-faceted properties.
Ashtrom Properties UK chief executive Guy Lewinsohn said: "We are delighted to have Mason Owen as our property managers for Exchange Flags. We look forward to working closely with Mason Owen alongside our tenants at Exchange Flags. We see a bright future for the Liverpool commercial office market in the short as well as long term and excited to be part of it moving forward."
Following the latest Government advice and in line with our priorities of ensuring the health and wellbeing of our people and our clients, the majority of Mason Owen will be working remotely from home. Fortunately our office move last year enabled the company to carry out a comprehensive upgrade of our systems and we are confident that we have the ability to carry out all essential tasks and ensure that we continue the high level of service that we strive to provide. You will of course be able to contact us via email and mobile phones – please refer to ‘The Team’ page.
If you have any questions please do not hesitate to contact us.
Three new stores for The Food Warehouse
On behalf of retained clients, Iceland, Mason Owen have acquired three new stores for The Food Warehouse in
- Lakeside Retail Park, Scunthorpe
- Parsonage Retal Park, Leigh
- New Ellesmere Approach, Walkden
For further information on The Food Warehouse acquisition program please contact Peter Burke on 0151 242 3140 or peter.burke@mason owen.com
Letting at Graylaw, Aintree for new Netflix Series
We are pleased to announce the letting of 32,000 sq. ft. of industrial space at Graylaw Trading Estate, Aintree for the filming of a new Netflix series.
The in-going tenant, a production company, are working on a ground-breaking new series for entertainment giant Netflix, one of the world’s leading film and television employers.
Louis Holt, surveyor at Mason Owen said: ‘With this letting, we are helping our retained client, reduce their voids from eighty-seven percent across the estate to just thirty-six percent. We look forward to seeing the work produced in the space on our screens in the not-so-distant future.’
There is now just 32,000 sq.ft. of space available at Graylaw.
For further information please contact Louis Holt on 0151 242 3145 or email@example.com
Sale of Church in Colwyn Bay
On behalf of the Methodist Church, Mason Owen have completed the sale of the former Nant-y-Glyn Methodist Church in Colwyn Bay.
Mason Owen are instructed on five other churches in the North West, for further information please contact:
0151 242 3091
Two New Associate Partners Appointed
Mason Owen are pleased to announce two new associate partners to their 60-strong Liverpool team, Surveyor Allie Bainbridge and IT Manager, Mike Williams.
Mike Williams has been with Mason Owen for over fifteen years, overseeing the IT for the commercial property business through a period of significant industry change.
Allie Bainbridge joined the business as a graduate in 2011, qualifying as a chartered surveyor four years later. Allie is now an integral part of the retail and leisure agency team.
Simon Bland, Managing Director said: ‘Both Allie and Mike are true assets to our business. Mike has steered us through ever-evolving technology, making sure we remain cutting-edge and progressive. Allie is a valued member of our retail and leisure team – she possesses a significant insight in these markets that has proved itself invaluable to our clients. ‘
He added: ‘We are a long-established business, and therefore careful about how we curate our senior team. Both Mike and Allie have important roles to play at Mason Owen as the business evolves, and we are delighted to be able to give them the opportunities they deserve.’
The Food Warehouse open their 100th Store in Blackpool
The Food Warehouse opened their 100th store in under 5 years at Blackpool Retail Park in July 2019 advised by Mason Owen.
- The Food Warehouse occupy 1.2m sq.ft.
- Created a £600m turnover business in 5 years
- Added nearly 1,000 new jobs
- Looking to open a store every week for the next 5 years
The Food warehouse have an ongoing requirement for more stores throughout the UK - see link below
H&M to open new store in Liverpool
Liverpool - 69-79 Lord Street L2 7PG
H&M have agreed to take the former BHS store on Lord Street in Liverpool following a multimillion pound refurbishment including a new shopfront and front elevation by the landlords, Vabeld.
“We are delighted to be opening a brand new store in Lord Street. This relocation from Church Street is a great opportunity to be able to offer our Liverpool customers an even better shopping experience and we are confident this new store will offer exactly that.” says Toni Galli, H&M’s Country Manager for UK & IE.
The new store offers full Ladies, Divided, Mens, Baby, Kidswear, Home and Beauty concepts.
Mason Owen represented the landlord’s (Vabeld) in this transaction. H&M were unrepresented.
Greggs on Retail Parks
As part of their expansion programme Greggs are now acquiring newly developed pod units on retail parks.
On their behalf, Mason Owen have agreed terms to take a number in the North West including Greyhound Retail Park, Chester; Kingston Retail Park, Rochdale; Parsonage Retail Park, Leigh and Marina Quay, Rhyl.
For further information on Greggs expansion programme please contact:
0151 242 3029
Mason Owen are pleased to announce the recent letting of a modern hybrid light industrial unit located on Olympic Park in Aintree. The unit comprising of 5,972 sq.ft. has been let on a new 10 years FRI lease.
For further information on this transaction contact and general industrial property enquiries contact:
0151 242 3145
Rent Review Success ...
Acting on behalf of retained landlord client Vabeld UK Limited, Mason Owen have negotiated a significant increase at rent review on premises at 14-22 Paradise Street, Liverpool, occupied by Halifax. With effect from January 2017 the rent has increased from £397,500 pa (£195 psf Zone A) to £475,000 pa (£237.50 psf).
For further information on this transaction, or how we might help you with your rent reviews or lease renewals contact:
0151 242 3074
Chester Office Letting
Mason Owen are pleased to announce the letting of Newgate House, a prominent and attractive Georgian period property in Chester City Centre, comprising 3,537 sq.ft. Terms have been agreed to let the property to Inside Online Marketing on a new 10 year lease.
For further details contact Louis Holt on 0151 242 3145 or firstname.lastname@example.org
Bromborough Industrial Space
Mason Owen have recently let Unit 6 Woodway Court, a well-positioned modern light industrial unit on the Croft Business Park, Bromborough. The property, comprising of 4,729 sq ft, was Let to SFL Mobile Radio Limited on a new 5 year lease.
For further details on this letting or any enquiries for industrial accommodation please contact Louis Holt - 0151 242 3145 / email@example.com