Building Briefs
Property group on course to beat last year
Black Country property group Bond Wolfe says it is on course to beat last year’s performance. “Last year, in the worst of economic climates, we let more than 30,000 sq ft of space in West Bromwich alone,” said managing partner James Mattin. “This year we are on to surpass this with over 11,000 sq ft of space already let and a further 25,000 sq ft under offer.” Among its portfolio of properties in the West Bromwich area is the Metro Court office block which contains Sandwell Mental Health NHS and Social Care Trust. Training body A4E has also taken a floor and a half at the Old Post Office – both buildings were refurbished by Bond Wolfe.
Interest rate rise could ‘kill everything’
AN interest rate rise would be disastrous for the commercial property market, a West Midlands chartered surveyor has warned. Rory Daly, managing director of Birmingham-based surveyors and auctioneers Bigwood, said an increase would “kill everything”. He said: “I don’t mind if they put taxes up, I can live with whatever they do on capital gains but please do not raise interest rates. We simply could not cope. The one thing that would destroy what little is left in the property market would be an increase in interest rates. At present rate levels the market is struggling. The authorities can do what they want elsewhere in the economy but they need to keep interest rates down. Otherwise it would kill everything.” Bigwood reported strong demand at its May auction with over 70% of the lots sold and close to £9m achieved both in the auction and in sales agreed afterwards.
Associate promotions at consultancy
PROPERTY consultancy GVA Grimley has made seven associate promotions at its Birmingham office. Barry Riley has been promoted to investment associate, Tesni Thacker to industrial associate, Mark Birks is the new land and development associate and Gareth Condy is valuation services associate. In addition, John Burroughs is head of client operations for property management accounting, Andrew Gray becomes business rates associate and Lucie Ariss has been promoted to associate national bid manager. These latest promotions are aimed at strengthening the business units across the company and helping to bolster the growth of GVA Grimley’s service within Birmingham and the wider region. Picture from left: John Burroughs, Lucie Ariss, Tesni Thacker, Andrew Gray and Mark Birks.
