TAG lands client at Riverside

Newly launched commercial property consultancy Tenant Advisory Group (TAG), has just completed one of its first acquisitions. It acted for Northern Helicopter Products Limited (NHPL) which has just taken a 4,250 sq.ft. trade counter unit at Riverside Commercial Park in Woolston, Warrington. NHPL has signed a new 10 year lease with a break option at the end of the fifth year.

NHPL were forced to relocate from Broadheath in Altrincham after their landlord, Urban Splash agreed to sell their property for redevelopment.

According to David Whitney, Managing Director of Northern Helicopters, finding alternative premises was not as easy as he thought it would be;

“With so much industrial property in the Altrincham area having been demolished in recent years we were finding it hard to identify the right property in the timescales which is why we turned to Martyn and his team.”

Northern Helicopters sells remote control helicopters both on-line and through its trade counter. It also has a sister company that manufactures hi-tech carbon fibre components some of which are used in Formula One racing cars.

It is a jungle out there!

Tenant Advisory Group has been appointed by Jungle Gym and Play Ltd to identify and acquire new sites for its award winning childrens soft play centre concept. Jungle Gym established its first centre at Winwick Quay in 2006 and has been seeking a second site for some time.

After several false starts, the owners decided that they needed to engage a professional property adviser to help them secure the right properties. They opted for Tenant Advisory Group following a personal recommendation.

Martyn Markland of Tenant Advisory Group explains the priorities of the property search. “Jungle Gym’s owners are passionate about their business and I am hoping that we can identify sites that will allow them to expand what is a great business. We will be focussing on areas where demand for these facilities exceeds supply and on properties that offer the right internal configuration, prominence and car parking.”

Extended Holiday for Small Businesses

A ‘headline catcher’ in the recent Budget was the Chancellor’s announcement that he was extending by one year, the Small Business Rate Relief (SBRR) holiday. But what did George Osborne actually mean by this statement?

Well, as Michael Blank of Tenant Advisory Group explains, the original Small Business Rate Relief holiday was brought into being by the former Chancellor, Alistair Darling. In his last ever Budget, he granted ratepayers occupying properties with a Rateable Value (‘RV’) of less than £6,000, a 100% exemption from business rates. However, it was for one year only, running from 1st October 2010 to 30th September 2011.

At the same time, he brought in taper relief for qualifying occupiers of properties with an RV of between £6,000 and £11,999. These taper relief rates vary from 100% at £6,000 to 0% at £12,000.

“What George Osborne has done is to simply extend this relief until 30th September 2012. Of course, for those occupying small or very secondary properties this is a valuable concession. But for those occupying properties with an RV close to £12,000, the savings will be relatively small.” Michael says.

After 30th September 2012, the SBRR scheme will revert back to its original and less generous form and as Michael Blank explains, “If you occupy a small or secondary style property, for example a small shop in a local precinct, our advice is to act upon this extension at the earliest possible opportunity as it might be one of the only concessions you get from this Chancellor!”

Tenant Champion Launches in Manchester

Tenant Advisory Group (‘TAG’), the first commercial property consultancy of its kind in the UK, has been officially launched in Manchester. Founded by Martyn Markland the former Head of NB Real Estate’s Manchester office, the multi-disciplinary firm is unique as it works exclusively for tenants.

By acting purely in the interests of occupiers, TAG reverses the trend for property consultancies to predominately serve the interests of landlords. As TAG’s founder Martyn Markland explains, “our sole focus is on helping SME’s achieve better value from commercial property so they can increase their profits and drive growth for the benefit of themselves and the economy as a whole.”

According to Bob Agnew, Property Partner at Croftons Solicitors LLP, “Martyn’s raison d’etre is clear, and very much of its time – to secure preferential terms for his business tenant clients.”

Having achieved successful outcomes for Irwell Valley Housing Association, Action Claims & Mortgages Ltd and Singleton Clamp & Partners, TAG recently acquired offices in Barnett House, 53 Fountain Street, Manchester. It offers a full range of property services including search & acquisition, lease renewals, building surveying and business rates.

According to Markland, SME’s often fail to obtain best value from commercial property, “owner-managers are often sceptical about property advisors and who can blame them when they appear to act mainly in the interests of landlords and not tenants. However, it is difficult to negotiate on equal terms with landlords and their agents unless you are engaged in the market on a day to day basis. By aligning our interests with the tenant we believe we can provide SME’s with better access to the market and better outcomes especially in lease renewal and relocation negotiations.”