Chapmans | Property Lettings & Management’s Post

#PropertyNews 𝐋𝐥𝐨𝐲𝐝𝐬 𝐁𝐚𝐧𝐤 𝐛𝐨𝐨𝐬𝐭𝐬 𝐫𝐞𝐧𝐭𝐚𝐥 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐚𝐟𝐭𝐞𝐫 ‘𝐦𝐲𝐬𝐭𝐞𝐫𝐲’ 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞. 𝑻𝒉𝒆 𝒄𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒆 𝒑𝒓𝒊𝒗𝒂𝒕𝒆 𝒍𝒂𝒏𝒅𝒍𝒐𝒓𝒅𝒔 𝒊𝒔 𝒐𝒏 𝒕𝒉𝒆 𝒎𝒂𝒓𝒄𝒉, 𝒘𝒊𝒕𝒉 𝒈𝒐𝒐𝒅 𝒔𝒉𝒐𝒓𝒕 𝒕𝒆𝒓𝒎 𝒓𝒆𝒔𝒖𝒍𝒕𝒔 𝒇𝒐𝒓 𝒕𝒆𝒏𝒂𝒏𝒕𝒔. 𝑷𝒓𝒐𝒑𝒆𝒓𝒕𝒚 𝒐𝒘𝒏𝒆𝒓𝒔𝒉𝒊𝒑 𝒊𝒔 𝒔𝒕𝒊𝒍𝒍 𝒃𝒆𝒔𝒕 𝒇𝒐𝒓 𝒊𝒏𝒅𝒊𝒗𝒊𝒅𝒖𝒂𝒍𝒔 & 𝒕𝒉𝒆 𝒆𝒄𝒐𝒏𝒐𝒎𝒚. ➡ Citra Living, the name for the private rental division of Lloyds Banking Group, has boosted its lettings property portfolio. But mystery surrounds the cost of the purchase – it is refusing to say how much it spent on acquiring a development in Manchester from an investment fund called Corebridge Real Estate Investors. Completed in 2020, the development – called Broadside and comprising 274 flats and two retail units spread across two separate eight and 10-storey blocks – is in an area of the city called New Cross. The various one, two and three-bed apartments are all fully let to private tenants who now become, in the words of a Lloyds statement, “Citra customers.” Broadside has electric vehicle charging points and a bike storage area plus a 24-hour concierge service, lounge and co-working space, fitness studio and two communal rooftop terraces. With the completion of this transaction, Citra’s portfolio stands at around 4,300 homes around the UK, of which 2,500 are delivered and occupied. Citra chief executive Andy Hutchinson says: “This acquisition represents another step in the evolution of Citra’s strategy and customer offerings.It adds significant size and choice, in an important location, to our growing portfolio. While our focus remains on additive acquisitions, those that grow the availability of much needed rental homes in the places people want them, the secondary market is a developing one and one we will continue to explore to broaden the mix of property types and locations we can offer.” Via LandlordToday.

It’s official - we’re the ones to call if you’re involved in property in Bedfordshire. Estates Gazette has just released their EG Radius stats for Q2 2024. The report weighs up all the disposals and acquisitions done on their platform between 1st April and 30th June and ranks companies based on how many deals they did. We came top in Bedfordshire with 27 deals - more than double the next four companies combined. In Buckinghamshire, we came a close second with 19 deals done, and we came fourth in Hertfordshire. The rankings include office, retail and industrial property. Our strong retail performance also earned us second place in the East of England region, with 82,057ft of retail space transacted. If you’re looking to buy, sell or lease property in the areas we cover, contact us: https://lnkd.in/d9Xx_46 #CommercialProperty #UKproperty #EGRadius #Industrial #RealEstate #Bedfordshire #Buckinghamshire #Hertfordshire

Really great news from Ian Lambert to start the week off; it's great to be able to report investment activity in the out-of-town Bristol office market. #NoOrdinaryPropertyConsultancy #AcquisitionSuccess #BristolBusiness #OfficeMarket #AssetManagement #REIT #CommercialProperty #Investment #Teamwork

Huge. Knight Frank and Bayleys complete acquisition of McGrath and announce new board of directors in Australia. "Following shareholder and regulatory approvals, the Scheme of Arrangement became legally effective on June 17, with the quotation of McGrath Shares on the ASX suspended on the following day. On June 27, the scheme of arrangement was implemented, with settlement of the acquisition now effected. John McGrath, Founder and CEO of McGrath said: “We are delighted to be joining forces with two of the greatest real estate brands in the world. Knight Frank is the most prestigious residential agency globally and provides us and our customers with instant access to the best global network and the most sophisticated international buyers in the world. For Knight Frank, the McGrath acquisition demonstrates the firm’s commitment to Australia, with the country further consolidating its position as Knight Frank’s largest presence outside the UK. In fact, the partnership elevates Australia and New Zealand to one of the largest regions within Knight Frank’s global network, with the number of offices in its Australian network now surpassing its UK business. Together, Knight Frank and McGrath have 171 offices across Australia. Meanwhile, Knight Frank, Bayleys and McGrath combined have a footprint of 276 offices across Australia, New Zealand and the Pacific Islands. Knight Frank is the largest privately owned real estate agency in the world, with more than 740 offices globally, in over 50 markets, with more than 25,000 people. This includes strategic relationships with Douglas Elliman, Berkadia and Cresa in the US, SMTB in Japan, as well as Bayleys in New Zealand. Knight Frank Australia Chief Executive Officer James Patterson said: “This acquisition represents another significant milestone in Knight Frank’s international expansion journey, allowing us to consolidate the business’ residential footprint globally, whilst leveraging our expertise and extensive reach to create enormous opportunity for McGrath and their customers. It will also allow Knight Frank Australia to continue to focus on its core business of commercial property whilst gaining exposure to the strong domestic residential market through an established brand offering attractive growth potential." Watch this space. https://lnkd.in/g87-euxU

🚨 Cala Group Acquired in £1.35 Billion Deal 🚨 The sale of Cala Group to Sixth Street Partners and Patron Capital highlights investor confidence in the UK housing market and the drive to address the undersupply of homes. Cala, set to deliver 3,000 homes in 2024, will benefit from fresh capital and strategic support. From a sector perspective, this acquisition emphasises the role of institutional investors in promoting sustainable growth and tackling the UK's housing challenges. Sixth Street and Patron Capital are not just financing growth—they’re shaping the future of UK housing. #RealEstate #PrivateEquity #HousingCrisis #Investment #Growth

Aspida Capital acquires on Oxford Street. Complex deals are where good agents really prove their mettle. This was a difficult corporate deal involving a complex multi jurisdiction corporate structure, debt, banks, asset managers, corporate as well as real estate lawyers. We were represented by Mark Harrison of Cyril Leonard Limited with whom we have a very long standing relationship and the vendor was represented by Henry Leighton and Edward De Stefano of Tydus Real Estate who took the time to meet with me to ensure we were the right purchaser. At every obstacle and there were many perseverance was they key word. Both my agent and the vendors agents were constantly "on it" brain stormed solutions with each other as well as the vendor, myself and each sides respective advisors consisting lawyers accountants and structuring experts. Possibly because I was once an agent, possibly because I employ amazing agents with my Robert Irving Burns (RIB) hat on I really appreciate the efforts made and the unwavering faith in us to perform. 105-109 Oxford Street is a fabulous building that we have acquired in a structured partnership with another family office that we will be asset managing. Oxford Street is reclaiming its crown as the UK’s top retail destination. What started with the Elizabeth Line drawing increased footfall is now being cemented with the £1bn investment in flagship retail stores for international brands. This acquisition represents a very attractive investment for us and our partner, with excellent scope for both rental and underlying asset value growth, over the short to medium term. Thank you guys. On to the next one please. #retail #investment #realestate   

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the day ahead. Landlords to more than 200 Carpetright stores across the country are set to be handed back the keys and miss out on any unpaid rent as just 54 locations are rescued through a pre-pack deal with rival Tapi Carpets & Floors Tapi agreed a deal with administrators at PwC late last night to buy the brand, 54 stores and two warehouses. The group said: “We are desperately sad not to have been able to save more of the business and customer orders. However, as we looked into the details of the situation, we quickly established that saving the entire business was unviable. While one retail empire crumbles, the owner of another is planning to grow the business. In an interview with EG, Hammerson chief executive Rita-Rose Gagné says she is excited about the next phase for the REIT now it has completed its turnaround. After agreeing a deal with LVMH-backed private equity firm L Catterton, offloading its stake in outlet business Value Retail, Gagné says she is now focused on scaling the business back up. “I’m excited about the next stage for Hammerson,” she told EG. “We have done this turnaround over the past three years, which has been really intense work and now we are turning the page. This is a game-changer for our balance sheet and we can look forward and now we have the capacity to do what we want and to play out there with other players.” Playing out there will largely focus on putting the £350m of capital it has set aside from the deal to work consolidating several of its joint ventures, said Gagné. Elsewhere in the world of real estate, developer Fifth State is working up plans to replace a 163-home consented scheme at Ilderton Wharf in south London with a 477-bed student home development, as demand for purpose-built student accommodation soars, L&Q has started to run the rule over its PRS portfolio and Bath & North East Somerset Council has been forced to sign a new agreement for its Bath Quays North scheme after L&G walked away. Coming up later today, Sheffield’s planners are holding a meeting with plans to redevelop the former Cannon Brewery expected to get the nod. On Wednesday, Primary Health Properties PLC (PHP) will announce its interim results, with analysts predicting earnings growth year-on-year as well as an increase in dividend. Last year, the company’s adjusted earnings for the six months to June totalled £45.9m and it paid a dividend of 3.35 pence a share. The Crown Estate will also publish its results on Wednesday, with Hammerson outlining the first six months of trading for its business on Thursday. All that and so much more in your EG MORNING NEWS https://lnkd.in/eKX5Mwr4

If you would like to find out more about Elders Real Estate and our strategy when it comes to acquisitions then this is a great read. Feel free to DM if you are interested in how we can help with your Exit Strategy #elders #growth #paintthetownred

One Agency Your Place and Devlin Group Limited Unite to Redefine Excellence in Canterbury Real Estate. In a landmark move set to transform Canterbury’s real estate landscape, One Agency Your Place has acquired one of New Zealand’s most iconic agencies, Devlin Group Limited. Established in 1914, Devlin Group was the first real estate business in Rangiora, marking over a century of trusted service. This powerful merger brings together two respected names under the One Agency Your Place brand, unlocking exciting new opportunities for clients across the region. With this union, One Agency Your Place is expanding its offerings to include rural sales, residential property management, and commercial property management, complementing its established expertise in residential sales. This bold move creates a comprehensive, full-service agency dedicated to delivering unmatched customer satisfaction. Clients choosing One Agency Your Place will enjoy working with a dynamic, forward-thinking team renowned for transparent service and game-changing marketing strategies that achieve exceptional results. Landlords stand to gain significantly too, benefiting from a streamlined property management system offering rigorous tenant screening, clear communication, and hassle-free invoicing. Co-director Nicole Weber described the merger as a unique opportunity to honour and build on a rich legacy: “It’s a privilege to unite with a business of such incredible heritage. For 110 years, Devlin Group has been a cornerstone of Rangiora’s real estate community. Its founder, LP ‘Larry’ Devlin, was a trailblazer who started the business at just 23 and ran it with unmatched passion until 92. Like Larry, our team is deeply rooted in Canterbury and remains committed to supporting local events and organisations.” Co-director Barry Rolton emphasised the transformative potential of the partnership: “By joining forces, we’re creating something greater than the sum of its parts. This merger allows us to offer homeowners and landlords access to a larger, highly skilled team, cutting-edge technology, and an unwavering focus on innovation. We’re excited to set new benchmarks in service and actively seek out customer feedback to continually refine and enhance what we offer.” The combined expertise and forward-thinking vision of One Agency Your Place and Devlin Group Limited promise a brighter future for Canterbury clients, with services designed to exceed expectations and deliver outstanding outcomes every time. #oneagency #waimakariri #christchurch #rangiora #christchurchnz #canterburynz #newzealand #pressrelease

One Agency Your Place and Devlin Group Limited Unite to Redefine Excellence in Canterbury Real Estate. In a landmark move set to transform Canterbury’s real estate landscape, One Agency Your Place has acquired one of New Zealand’s most iconic agencies, Devlin Group Limited. Established in 1914, Devlin Group was the first real estate business in Rangiora, marking over a century of trusted service. This powerful merger brings together two respected names under the One Agency Your Place brand, unlocking exciting new opportunities for clients across the region. With this union, One Agency Your Place is expanding its offerings to include rural sales, residential property management, and commercial property management, complementing its established expertise in residential sales. This bold move creates a comprehensive, full-service agency dedicated to delivering unmatched customer satisfaction. Clients choosing One Agency Your Place will enjoy working with a dynamic, forward-thinking team renowned for transparent service and game-changing marketing strategies that achieve exceptional results. Landlords stand to gain significantly too, benefiting from a streamlined property management system offering rigorous tenant screening, clear communication, and hassle-free invoicing. Co-director Nicole Weber described the merger as a unique opportunity to honour and build on a rich legacy: “It’s a privilege to unite with a business of such incredible heritage. For 110 years, Devlin Group has been a cornerstone of Rangiora’s real estate community. Its founder, LP ‘Larry’ Devlin, was a trailblazer who started the business at just 23 and ran it with unmatched passion until 92. Like Larry, our team is deeply rooted in Canterbury and remains committed to supporting local events and organisations.” Co-director Barry Rolton emphasised the transformative potential of the partnership: “By joining forces, we’re creating something greater than the sum of its parts. This merger allows us to offer homeowners and landlords access to a larger, highly skilled team, cutting-edge technology, and an unwavering focus on innovation. We’re excited to set new benchmarks in service and actively seek out customer feedback to continually refine and enhance what we offer.” The combined expertise and forward-thinking vision of One Agency Your Place and Devlin Group Limited promise a brighter future for Canterbury clients, with services designed to exceed expectations and deliver outstanding outcomes every time. #oneagency #waimakariri #christchurch #rangiora #christchurchnz #canterburynz #newzealand #pressrelease