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Cooke & Arkwright
2017 Issue 1

Welsh infrastructure investment at highest level for decades

2017 and the rest of the decade will be years when a range of major infrastructure projects across Wales come on stream, impacting positively on property markets, as well as the wider economy. While soft infrastructure investment in skills and better organisation such as the city region initiatives are important, it is hard infrastructure investment that will give Wales a competitive edge.

The Brexit vote heralded a period of unprecedented constitutional, economic and social change - the full fallout of which is not yet clear. Yet against this backdrop, Wales has much to celebrate and prospects for its property markets are more promising than ever as a result of ...

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Welsh Assembly debating chamber

New tax and borrowing powers come to wales

The Wales Act 2017 received Royal Assent on 31 January 2017 and is now an Act of Parliament, although the majority of changes will not come into force until 2018. Some of the main provisions of the act relate to increased borrowing capacity and devolved tax raising powers.

Cooke & Arkwright Chairman, Michael Lawley, says Welsh businesses will be looking for reassurance that these powers will be used wisely...

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Business rate turmoil in England

Business rates have again made constant headline news in England over the past week. Not a day goes by without this topic appearing on the front page.

The adverse impact of the 2017 business rate revaluation on high street retailers in particular is a cause of some concern, with some very successful lobbying leading to the Westminster Government having to reconsider its position on those properties suffering substantial increases as a result of the revaluation.

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Artists impression of Plasdwr

Work to start on Phase One of Plasdŵr

The first phase of Plasdŵr, Cardiff’s £2billion garden city, is due to get underway, with the construction of highway improvement works and site entrance to be followed by the start of housebuilding.

The first of 630 proposed homes in the north west of the capital which were approved by the planners at the end of last year will be built on a 16 acre site to the north of Llantrisant Road, by lead developer Redrow Homes.

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Crane reflected in office windows Cooke & Arkwright

Highs and lows of Cardiff office market

Just three years after hitting its lowest level in almost two decades, Cardiff’s office market rose to a record high in 2016. Office take-up reached almost 686,000 sq ft, the best performance since the buoyant period of 2002 when approximately 545,000 sq ft was let.

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NPS saves public organisations time and money

In autumn 2015, Cooke & Arkwright was successful in gaining a place on the National Procurement Service (NPS) Construction Consultancy (Infrastructure & Estates) Framework for the provision of Estates Professional Services

The agreement provides access to a range of consultancy services for Public Sector bodies in Wales. Seven firms were appointed for the Estates Professional Services lot covering North Wales and seven firms for South and Mid Wales.

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Retailers meet Alun Cairns MP over business rate concerns

Worried retailers and small business owners from Cowbridge, Llantwit Major and Barry attended a meeting on the 2017 Business Rate Revaluation at The Bear Hotel in Cowbridge on 13th February. The event was held by the Rt Hon Alun Cairns MP, Secretary of State for Wales to discuss the ongoing issue of changing business rates.

Jane Shankland, Associate Director of Rating at Cooke & Arkwright, conducted a presentation to provide advice on how businesses can appeal the new rateable values and keep rates as low as possible. Many businesses across the Vale are bracing themselves ...

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Caspian Point

Cardiff Waterside reinforces importance to Welsh business

Cardiff Waterside, located at the heart of Cardiff Bay and funded by Aviva Investors, has announced that seven organisations have shown renewed commitment to the location in the last few months by agreeing terms on new leases.

The recent announcements demonstrate Cardiff Waterside’s ability to not only attract organisations from various sectors but retain them due to ...

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Rhys Price, Dominic Garner, Caryl Howell, Gabriel Davies and Thomas Rees, Cooke & Arkwright

New graduates have 'very promising futures ahead of them'

Cooke & Arkwright has appointed five graduate surveyors, taking its headcount to over 60.

Caryl Howell, 24, Dominic Garner, 24, Gabriel Davies, 22, Thomas Rees, 23 and Rhys Price, 29, have been recruited as part of the firm’s commitment to identifying and developing rising stars in the commercial property market.

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Nigel Kempner, Grafton Property Advisors

It is with great sadness that I heard of the sudden death of Nigel Kempner aged 60, who started his high flying career in property with Cooke & Arkwright during the late '70s to 1984.

Cooke & Arkwright acquired Nigel's father's property consultancy, Victor J Kempner & Co of Cavendish Square in approximately 1977 to establish a presence in the West End.

It was decided that Nigel and I, as junior members of the firm, would swap jobs - he moving to Cardiff and me to London to work with his father and Robert Head, the London partner. Nigel's forte was development, investment and procuring finance for property related projects. As a result of his introduction of a particular client, we started working in the United States which ultimately lead, under Nigel's instigation, to the creation of the United States Property Trust which Cooke & Arkwright ran as UK secretariat, with Nigel performing the pivotal role.

Inevitably, Nigel felt the urge to move on in the mid 1980s to pursue his goal of direct property investment. He set up a number of highly successful investment vehicles, culminating with Grafton Property Advisors which ran the West End Property Unit Trust (WELPUT) managing assets of over £1.3bn.

He was a good friend, larger than life and creatively talented as far as property was concerned (just like his father who took me under his wing in our London office). Our condolences go to his wife and children.


Contributing author to Rating Code of Practice

The cost of rates to many businesses may be substantial and ratepayers often need advice on establishing their liability and understanding how assessments may be challenged.

Rating advice has become an important area of work and the publication of a Code of Practice was incorporated to set out a mandatory code of best practice that reinforces the RICS Rules of Conduct for members and for firms.

The new Rating Code of Practice (fourth edition) has been jointly adopted by the Royal Institution of Chartered Surveyors (RICS), the Institute of Revenues, Rating and Valuation (IRRV) and the Rating Surveyors' Association (RSA).

Cooke & Arkwright's Director of Rating, Andrew West MRICS IRRV (Hons), acted as contributing author with the working group that produced the publication.

The Code of Practice (CoD) aims to improve consumer protection and maintain professional standards by setting out the standards of practice that rating consultants must adopt in all cases where they are either seeking instructions or are approached by a new or existing client to provide advice in relation to non-domestic rating matters.

The Code of Practice applies in England, Wales, Scotland and Northern Ireland.

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Cooke & Arkwright is a trading name of Cooke & Arkwright Ltd. Registered in England and Wales No 2618062. Cooke & Arkwright offer Retail, Office, Industrial, and Rural properties. Registered Office: 7/8 Windsor Place, Cardiff CF10 3SX. Cooke & Arkwright is regulated by the Royal Institution of Chartered Surveyors.
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