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Cooke & Arkwright
October 2015 news

Artist's impression of One Central Square

Exciting times at Central Square

The announcement that Legal & General have formed a JV with Rightacres to develop out the one million sq ft Central Square redevelopment in Cardiff city centre is a fantastic boost to Cardiff and South Wales as a whole. Chancellor George Osborne said it was a major vote of confidence in the Welsh economy; it is also a sign of confidence in the commercial property market in the region. Director Graham Davies, who has provided investment advice to Rightacres on a variety of opportunities at the location comments:

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Aerial view of site

47,000 sq ft orangebox letting completes site

Cooke & Arkwright's Industrial Agency has secured a letting for a 47,000 sq ft unit at Treforest Industrial Estate to Orangebox, one of Wales' top office furniture manufacturers. Acting with joint agents DLP Surveyors, we advised the landlord Blog Properties on the deal. Cooke & Arkwright has been providing advice on this 85,250 sq ft property for over 25 years, including latterly the sale of the building to Hutchings, Griffin Mill and Blog Properties for £1.5m.

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cardiff retail warehouse investment acquisition

Cooke & Arkwright's Investment agency team have advised a private investor on the acquisition of the 30, 440 sq ft  Carpetright store on Newport Road, Cardiff for £2.2m. The recently refurbished store is let in its entirety to Carpetright Plc until 2024 and the deal represents a net initial yield of 8.50%. Director Graham Davies commented, "The acquisition of Carpetright by a local commercial property investor demonstrates growing confidence in Newport Road as a location. 

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Photo of Andrew West and Peter Ghattas of Cardiff Blues

Cardiff Blues partnership sealed

Wales' largest independent commercial property specialists have been recognised as an official supplier to the Cardiff Blues, marking a ten year relationship which has seen the club save more than £550,000 in business rates. Cooke & Arkwright provides a number of high profile sporting venues with consultancy and advice.

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friars walk countdown

10,000 sq ft of new lettings at Friars Walk have brought Queensberry’s retail and leisure development in Newport to 85% let, with less than five weeks to go before it opens on 12 November. Retailers Jack and Jones, Tiger and The Body Shop, have signed up joining Next, H&M, Top Shop, New Look and River Island, plus a 95,000 sq ft Debenhams store.

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pandora to boost merthyr high street

Cooke & Arkwright’s Retail Agency team has let a unit to fast-growing Danish jewellery retailer Pandora, in a prime section of High Street in Merthyr Tydfil. The high profile letting which has been acquired by Pandora franchisee, David Christopher Ltd, will provide a welcome boost to the town when it opens in time for Christmas.

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Property owners must prepare for increased premiums from 1 november

The Chancellor slipped in a tax rise in his July budget that many may have missed. From 1 November 2015, Insurance Premium Tax (IPT) will rise from 6% to 9.5%. Philip Angell, Director of Property Management says that this will affect all property owners and their tenants where landlords insure and recharge the premiums. "This significant rise in IPT will further increase the cost of occupying property," he said.

cardiff local development plan progresses

The Cardiff Local Development Plan (LDP) is entering the final part of the process to become adopted. The Inspector held the last two hearing days at the end of September and has intimated that her report should be published before the end of this year. This would mean that the LDP would be on schedule for adoption in the early part of 2016. Michael Lawley, Chairman comments: "With a period of over 20 years by then having elapsed since the last Local Plan was adopted, Cardiff will finally benefit from a clear framework for the future development and the continuing growth of the city."

new debt recovery threshold affects landlords

From 1 October 2015 the threshold for serving a statutory demand increased from £750 to £5,000. A statutory demand is often used by landlords to recover a debt from a tenant who will have 21 days to either settle or reach agreement to pay. If the debtor can't settle, bankruptcy proceedings against an individual or a winding up of a limited company may be started. An increase in the threshold had been anticipated but this was higher than expected. Philip Angell, Director of Property Management says, "This change, coupled with the introduction of CRAR in 2014, will have a detrimental effect on a landlord's ability to recover low level debt."

Property Brochure

Click below to download a reduced file size PDF of our Property Highlights 2014/15 brochure. If you would like a printed version please contact us.

Summer Drinks Photos

Please click below to download a reduced file size PDF of our Summer Drinks Reception image album.

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Cooke & Arkwright is a trading name of Cooke & Arkwright Ltd. Registered in England and Wales No 2618062. Coark offer Retail, Office, Industrial, and Rural properties. Registered Office: One Central Park, Western Avenue, Bridgend, CF31 3TZ. Cooke & Arkwright is regulated by the Royal Institution of Chartered Surveyors.
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