The Base, Warrington

 

Last week we had another look around this fantastic Grade A office premises in Warrington Town Centre. The building offers office space up to 1,508 sq ft for advanced manufacturing and engineering businesses and specialises in start-ups and SMEs. It was the first building to be completed in the Stadium Quarter redevelopment.

Stadium Quarter Development Plans (Warrington & Co Website)

The Base is now starting to fill up nicely with new occupiers coming in almost weekly, the building is managed by Langtree and we are hoping to further develop our relationship with Langtree and work together on this building to help attract new innovative and exciting new occupiers to Warrington.

 Further Information From Their Website

The Base is a contemporary 50,000 sq ft multi-user office building, which is centrally located in Warrington town centre between Dallam Lane, Tanners Lane and Winwick Street. The building forms part of the first phase of the wider development scheme.

Designed over 5 floors, the building’s purpose is to encourage and facilitate the growth of start-up businesses within the advanced manufacturing and engineering sectors.

The BREEAM ‘Excellent’ rated building offers a boardroom, meeting rooms, hot desk facilities and office suites ranging in size from 324 to 1,508 sq ft.

Specifications

  • CCTV high speed internet connectivity
  • 24/7 fob access
  • Manned reception area
  • 2  lifts servicing every floor
  • Comfort Heating & Cooling (individually controlled within each office)
  • Raised floor access
  • Fully equipped kitchen on each floor
  • Free WiFi within communal areas/meeting rooms
  • Shower and locker facilities
  • External cycle store
  • Disabled access and facilities
  • A range of meeting room facilities available to hire
  • Flexible lease terms allowing for business growth

THE BASE
Dallam Lane
Warrington
WA2 7NG

Website

 

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Are you Ready for the 2017 Rating Revaluation

Key Facts

  • The Amount you pay in Business Rates will Change in 2017
  • Small Business Rates Relief is Changing (For the Better!)
  • Your Rates can go up as well as down
  • What are the next steps for you with this Rating Revaluation

What is Changing?

  • Rating Revaluation. The last Business Rates assessment was in 2010, this was based upon rental evidence on or around the revaluation date of the 1st April 2008. The Revaluation is in 2017 and will be based upon rental evidence on or around the revaluation date of the 1st April 2015. As there has not been a Rating Revaluation for 7 years, and the last reassesment was based on rental evidence on or around 1st April 2008 (height of the market for many sectors) we are expecting substantial changes across all sectors.
  • Small Business Rates Relief – A significant proposed change for next year is for “Businesses with a property with a Rateable Value of £12,000 and below will receive 100% relief. Businesses with a property with a Rateable Value between £12,000 and £15,000 will receive tapered relief,” according to the last Budget Statement.
  • Rating Multipliers for 2016/17. 48.4p in the £ for small businesses, 49.7p in the £ for larger properties. (Small businesses defined as a Rateable Value under £18,000)

Warrington

The analysis of 2017 rating revaluation of commercial property within Warrington has revealed that a large proportion of rating assessments have been reduced. In such cases the assessments should still be reviewed to assess whether the reduction is to the correct level. A significant proportion of the commercial property has seen an increase in the Rateable Value particularly in the industrial sector.

Warrington Rates Revaluation

Warrington Golden Gates

What Next?

There is a three stage process for challenging these assessment. This is a new system that is being implemented by the government to prevent the previous issue of too many rating appeals being submitted. The outline of this process is as below, although full details of the process have not yet been released.

  • Check – The initial check is to establish whether the basis of the valuation is correct. This mainly applies to the size of the property. If part of your property has been demolished or added to it will affect your valuation and is something to consider before challenging.
  • Challenge – This is the second stage check which will look at rental evidence and a calculation of a revised Rateable Value. If an agreement cannot be reached then there will be an option to go to 3rd and final stage of an appeal.
  • Appeal – It has been suggested that for the first time there will be a Government fee in order to Appeal the decision made in the challenge stage. The Appeal will be decided by the Valuation Tribunal and there will be a very limited ability to add additional evidence to that used at the challenge stage. This is a key change which attempts to prevent bogus appeals being lodged and ensures that more work will need to be carried out at the check and challenge stages rather than waiting to get to tribunal.

What Can You Do?

You can check the information is correct by visiting the Valuation Office’s website. This website provides the current Business Rates and the proposed Business Rates for 2017 (https://www.gov.uk/correct-your-business-rates). This will confirm the change in your Rateable Value coming into affect on the 1st April 2017.

By entering your address you will be able to locate your property. On the page with property details on you initial checks can be made into whether the assessment looks correct. If you think your building is 1,000 m² and the website lists it as 1,500 m² there may be an issue that needs investigating. The next question is, does your Rateable Value differ greatly to the rent you pay?

If this all sounds too complicated, Morgan Williams Chartered Surveyors can investigate for you. We will happily have an initial conversation with you to discuss your options. If we think there is scope for challenge then we can discuss an approach to a challenge.

Please note that in many cases our advice will be to “do nothing!”. The importance of not appealing your business Rates is very significant in certain circumstances. If there are substantial improvements to the property or even an extension to the building. These factors may have not previously been incorporated within the Rateable Value. When appealing the Rating Assessment in these circumstances there is potential for the Rateable Value to increase dramatically. There have been many instances where less scrupulous “Rating Surveyors”offer to appeal. These have historically come from unqualified persons operating from a call centre. Often there is not even an inspecting or any consideration given to the proposal. An appeal is submitted online opening the door for a potential increase in Rates in the circumstances referred to.

Get in Touch

Fill in your details on the Contact Us page or email us on enquiries@morganwilliams.com. We will need your name and contact number. If you could include property details with your information we can carry out preliminary checks before we call you back.

Rating Revaluation 1st April 2017 - How does it affect you?

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Warrington Town Centre

Less Vacant Premises More Apartments

 

Morgan Williams Commercial have been working with Warrington & Co to monitor the on-going activity within Warrington Town Centre.

 

Town Centre Vacancy Rates in Decline

Over the past couple of years Morgan Williams have been responsible for reporting Warrington Town Centre updates to Warrington & Co, in order to provide Warrington & Co with an insight into current market trends. Positive changes have been seen over this period with Town Centre vacancy rates dropping remarkably. Interest in commercial property has increased, demand levels have increased and after “bottoming out” of rental levels they have shown some recovery for the first time since 2008.

Morgan Williams calculates that the current vacancy rate within the Town sits at approximately 13%, this is the lowest level since 2008 and compares favourably to the current UK average of 11.2%. Other studies report Warrington’s vacancy rate at 16.7% for 2016 although Morgan Williams believes that this still includes the now demolished sections of the market. The new market redevelopment has already helped the Town Centre greatly .Many of the vacant premises around the old Time Square have now been demolished to make way for the new development. The tenants that were located at Time Square have relocated and   taken up vacant space in other areas of the high street, this has increased pedestrian flow to these areas and has attracted other occupiers to the Town Centre.

Town Centre retail areas such as Buttermarket Street, Horsemarket Street, Sankey Street and Market Gate have seen an influx of new tenants which has improved the overall appearance of the Town Centre. Bridge Street is still an area of concern but once the new market development is completed, with a new entrance fronting Bridge Street in the building formerly occupied by Boots, landlords and agents are positive that an increase in pedestrian flow to the area will lead to more demand for the vacant units on Bridge Street. There are underlying issues with many of the units on Bridge Street for example long leases to companies that are now no longer trading. The long overdue business rates re assessment will also hopefully bring the rating assessments for these Town Centre properties to more manageable levels and thus offer some relief to occupiers and some incentive to future occupiers.

Read more on the redevelopment of the Town Centre on the Warrington & Co website.

Above gives an artist impression of how the new Bridge Street will look, from this Manchester Evening News article.

Residential Shift

Corresponding to the positive news around Retail vacancy rates there has also been a move by landlords to convert previously underutilised upper floors of retail premises into residential property in order to help with the demand for housing supply within Warrington. There has also been considerable investment in vacant office and retail premises on the outskirts of the Town Centre, areas like Cairo Street, Wilson Patten Street and Museum Street have seen a hive of activity to bring derelict properties back to life. Morgan Williams estimates that over £10 million has been spent by private landlords over the past 2 years on improvements to these areas.

We believe that by bringing more people to live in the Town Centre this will create a more vibrant atmosphere, a place where people would like to work, eat and socialise. Over the next few years the current and further Town Centre developments proposed will make it unrecognisable from the recent past.

A view down Cairo Street, 18 months ago, and now.

Before

Cairo Street

Image from Google Images Approximate date January 2015.
After

IMG_4069

Morgan Williams Image Rights, photo taken Monday 5th September 2016

As you can see from the above image, just 18 months ago the junction of Cairo Street and Rylands Street was awash with various agents For Sale/To Let boards, the areas redevelopment with new residents and retail occupiers returning to the area.

Morgan Williams predicts exciting times ahead for Warrington, especially within the Town Centre region.

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The property of the day we are featuring today is an industrial unit located on North Florida Road in Haydock, the unit is available to let and the landlord would consider offers to purchase.

The property is situated within an established, popular and easily accessible industrial/warehousing location. The property is located close to the eastbound access point to the East Lancs Road, with access to the westbound section via Haydock Industrial Estate. Junction 23 of the M6 Motorway is within 1 mile.

A new Full Repairing and Insuring Lease is available for a 5 or 10 year term at a rent of £45,000 per annum exclusive.  Upward only rent reviews will be at 3 yearly intervals.

http://morganwilliamo.wpengine.com/property/north-florida-road-haydock-industrial-estate-haydock-st-helens-merseyside-wa11-9tp/

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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The property of the day we are featuring today are business units located in Asher Court on Lyncastle Way, Barlaycastle Industrial Estate.

The properties are situated on Lyncastle Way, approximately 1½ miles from the M6/M56 Interchange at Lymm. Warrington Town Centre is approximately 4 miles to the northwest. Asher Court is a quality development of 8 two-storey brick built business units arranged around a central courtyard that provides parking. Each unit is configured to comprise storage/workspace and office accommodation to include staff amenities. The units are self-contained and are suitable for the majority of combination businesses. Asher Court is situated within Barleycastle Trading Estate which offers convenient access to the motorway network via the M6/M56 interchange at Lymm.

 The unit is available to lease at £5 per ft²

http://morganwilliamo.wpengine.com/property/units-378-asher-court-lyncastle-way-barleycastle-trading-estate-appleton-warrington-wa4-4st/

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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The property of the day we are featuring today is a industrial unit on Cosgrove Business Park in Anderton, Northwich.

The property is located on Daisy Bank Lane, in Anderton, Northwich with accessibility to various motorway links including the M56 at Junction 10 (approx. 15 minutes) and the M6 at Junction 19 (approx. 20 minutes). The area is also served by the main Liverpool-Crewe-London and Manchester-Chester intercity rail links. Alongside this both Manchester International Airport and Liverpool John Lennon Airport are within a 25 mile radius. Cosgrove Business Park is a Commercial Business Park currently comprising 48 small business units. This end unit comprises of ground floor storage area and first floor office space. The storage area benefits from a 4.8 meter high and 3.5 meter wide electric shutter door and there is a height to eaves of 6 meters. The building is steel frame with brick and block work lower walls and profile steel sheeting to the upper walls and roof.

 The unit is available to buy at £165,000.

http://morganwilliamo.wpengine.com/property/unit-39-road-2-cosgrove-business-park-daisy-bank-lane-anderton-northwich-cw9-6fy/

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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The property of the day we are featuring today is a retail unit on the main high street in Stockton Heath, Warrington.

The property is situated in the prime retail section of Stockton Heath Village, an affluent suburb of Warrington 2 miles to the south of the Town centre. Surrounding occupiers include; ladies fashion, estate agents, restaurants and a Sainsbury’s Local. A newly refurbished ground floor retail unit that has been finished to an extremely high standard including parquet style wooden floor, full height glazed timber shop front with recessed entrance door, air conditioning, plaster walls and ceiling including good quality light and sound fittings, together with high end WC and kitchen facilities.

 The unit is available to let at £18,000 per annum.

http://morganwilliamo.wpengine.com/property/110-london-road-stockton-heath-warrington-wa4-6le/

Morgan Williams are also tweeting about this property as seen here. Please remember to follow us on Twitter for regular updates on our properties.

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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The property of the day we are featuring today comprises of an investment oppurtunity located on Knutsford Road, Warrington.

Occupying a prominent main road position at the junction of the A50 (Kingsway South) and A5061 (Knutsford Road), opposite The Bridge Shopping Centre, which serves a large catchment area. The property is also located close to the Village car parking facilities. Latchford is a local shopping area along Knutsford Road and is a busy residential suburb of Warrington. Two adjoining retail units at the end of a parade of shops. The buildings are two storey with retail occupiers at ground floor and upper floor flats.

 The unit is available at a Sale Price of £315,000.

http://morganwilliamo.wpengine.com/property/757-759-knutsford-road-latchford-warrington-wa4-1jy/

Morgan Williams are also tweeting about this property as seen here. Please remember to follow us on Twitter for regular updates on our properties.

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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The property of the day we are featuring today comprises of first floor office space located on Mill Lane in Lymm, Warrington.

The property comprises the first floor of a modern attractive office development set in its own grounds with far reaching countryside views in two directions. The suite is arranged at first floor and comprises large open plan office at the rear together with further open plan and private office rooms to the front. There is a kitchen and ladies and gents WC facilities. The offices are appointed to a good standard including ceiling mounted Cat II lighting, dado trunking; data points, carpeted floors and double glazed windows. Externally there is a parking area for up to 13 cars.

 The unit is available at a rental of £32,000.

http://morganwilliamo.wpengine.com/property/unit-3-bollin-court-mill-lane-lymm-wa13-9sx/

Morgan Williams are also tweeting about this property as seen here. Please remember to follow us on Twitter for regular updates on our properties.

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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The property of the day we are featuring today is an investment property located on Lindi Avenue in Grappenhall, Warrington.

An adjoining pair of 2 storey mid terraced properties converted into 5 flats and a single retail unit together with rear car park. The flats are currently let on Assured Shorthold Tenancy Agreements at rents of £390 pcm per unit. The ground floor retail unit is offered with vacant possession and is currently owner occupied as a hairdressing salon. This is an interesting opportunity for an investor to acquire a property in an affluent south Warrington location where rental growth can be gained.

 The unit is available at a Sale Price of £350,000.

http://morganwilliamo.wpengine.com/property/14-16-lindi-ave-grappenhall-warrington-wa4-2sj/

Morgan Williams are also tweeting about this property as seen here. Please remember to follow us on Twitter for regular updates on our properties.

Investment property available in GrappenhallWarrington. 5 flats and 1 retail unit available for £350,000 residential http://t.co/f8fiiupqlz

— MorganWilliams(@MorganWillComm) November 5, 2014

Morgan Williams are also sharing this property on our Facebook page, please share with your friends or anybody you may feel would be interested. Remember to also like us on Facebook.

https://www.facebook.com/MorganWilliamsCharteredSurveyors

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