Harry Rudolf’s Post

Ownership of the 52 Plaza shopping center in Rural Hall has been exchanged between two Winston-Salem commercial real-estate companies, according to a Forsyth County Register of Deeds filing Thursday. https://lnkd.in/gQB35Jt9

They cost ground-floor commercial tenants big bucks. That's another reason for co-op and condo boards to remove those unsightly and unloved sidewalk sheds as quickly as possible. A new study commissioned by the city and conducted in cooperation with Mastercard shows that cardholders spend between $3,900 and $9,500 less each month at businesses located in buildings with sidewalk sheds. Restaurants and bars are hardest hit, reporting a 3.5% to 9.7% decrease in weekly transactions in the six months following shed construction. “Too many businesses throughout New York City have been shrouded by hundreds of miles of sidewalk sheds and scaffolding, some of which have been up for decades,” Mayor Eric Adams said in releasing the findings of the study. “Those sheds may have gone up to keep people safe, but they’re still up because it’s cheaper for building owners to leave them up than to fix their buildings. That’s bad for public safety, bad for our city, and, as this study shows us, bad for business, too." Read the article: https://lnkd.in/gAmQGpJZ #condo #coop #NYCrealestate #nyccondo #nyccoop #nycapartment #newyorkcity #nyc

Stockton high street had been run down for so long now, empty shops and low footfall. This has made the council rethink what Stockton-on-Tees should be. As you can see they have demolished the old Castlegate shopping centre. This is now going to be pedestrianised with green areas, and amphitheatre and bars and restaurants. £35 million is currently being spent here. Now is the time to invest! Click the link below https://bit.ly/4d5hEMi #buytolet #PropertyInvestment #FinancialFreedom #PassiveIncome #RealEstateInvesting #BuyToLet #RetirementPlanning #WealthBuilding #InvestmentOpportunity #Teesside #RealEstate #PropertyDealPackaging #UKPropertyMarket #aspire84 #PropertyTrading #Aspire84 #MaximizeProfit #InvestmentDeals #Property #HandsFreeInvesting #ARBProperties #RealEstateExperts #invest #HandsFreeService #propertydevelopersuk #propertyinvestment #dealpackaging #dealsourcinguk #btl

Stockton high street had been run down for so long now, empty shops and low footfall. This has made the council rethink what Stockton-on-Tees should be. As you can see they have demolished the old Castlegate shopping centre. This is now going to be pedestrianised with green areas, and amphitheatre and bars and restaurants. £35 million is currently being spent here. Now is the time to invest! Click the link below https://bit.ly/4d5hEMi #buytolet #PropertyInvestment #FinancialFreedom #PassiveIncome #RealEstateInvesting #BuyToLet #RetirementPlanning #WealthBuilding #InvestmentOpportunity #Teesside #RealEstate #PropertyDealPackaging #UKPropertyMarket #aspire84 #PropertyTrading #Aspire84 #MaximizeProfit #InvestmentDeals #Property #HandsFreeInvesting #ARBProperties #RealEstateExperts #invest #HandsFreeService #propertydevelopersuk #propertyinvestment #dealpackaging #dealsourcinguk #btl

It's interesting to read that the Labour government is taking forward the plans for High Street Rental Auctions (HSRAs) - originally introduced by the Conservative government - and that they will come into effect next month, on 2 December. Government minister Alex Norris MP wrote to English council leaders yesterday (https://lnkd.in/eTGPkEXU). It sounds like an event in Wolverhampton on 21 November will share more details, and reveal who the "early adopter" local authorities are. Those of us who work on the ground in town centres all the time know that there can be a multitude of reasons why #emptyshops remain vacant for a long time, not just because landlords are being intransigent or unrealistic. For example, a property may be vacant pending redevelopment, or perhaps the costs of bringing it up to a usable standard are simply unrealistic without some external financial support. However, if the HSRA scheme is properly funded by government, it may well be a valuable tool for helping England's councils secure action on those empty shops that are vacant for no good reason. Perhaps too it will shine a light on the current broken model of commercial property ownership, and encourage a landscape where the norm is for local shops to be owned by local people invested in those communities, rather than by absentee landlords who may never have seen the properties that belong to them. As #RetailCupid 💘, I hope I can continue to play a useful role in matching up empty shops with the occupants that want to make productive use of them! #highstreet #highstreets #retail

Great to get another deal agreed in Guildford. Thanks to Benjie Haston who acted on behalf of Hobbs. Lease renewals are often quite tortuous these days but we got there quite quickly in the end on this one. We continue to have a number of on-going instructions in Guildford. If you want to have a chat to run through our thoughts on the occupational or investment markets feel free to contact one of us. Jonathan Kelley Dan Walker Ben Tyack #Retail #AssetManagement #RetailLeaseConsultancy #LeaseConsultancy #Guildford

A bit of basic maths in relation to property. Commercial to Residential conversion is now a very attractive proposition - even being discussed for prime areas such as upper floors in Oxford Street. This is clearly in large measure due to the rise in residential values. However, it is also in probably equal measure due to commercial values having tanked, or at least significantly declined over many decades. For instance, in the mid-late 1980s, office space in little old Maidstone (where we are based) was about £25psf/year. That was equivalent to Manhattan (yes really). Office values in Maidstone are now on the floor with barely any demand. For comparison, Grade A Prime London was about £90 to £100psf/year at the time. Grade A Prime London is now around £45psf/year, so has halved over the past 40 years. As regards retail, the Fremlin Walk shopping mall in Maidstone sold for £90 million, then sold again for just over £100 million, and has just been acquired last week for £25 million. And yes, for those not familiar it is still quite a modern mall in very good condition. Sobering stats indeed! #property #values #commercial #retail #office #conversion

Thanks to PrimeResi Journal for featuring us once again, with another record breaking deal put together by our very own Craig Simpson Setting a new re-sale benchmark of £3256psf, along with our other recent Covent Garden record-breaker transacting at £8m, highlights continued activity in the market and strong demand for best-in-class residential across the West End. It was also a pleasure of a deal with a client fully invested in our ability to do things a little differently, and a buyer with whom Craig built a fantastic rapport over a short space of time, with all parties extremely satisfied upon conclusion of the transaction. A nice way to round off the year! Craig is quoted in the article as saying: “Since winning the coveted Evening Standard ‘Best London Home’ award in 2019, Floral Court has become arguably Covent Garden’s most sought after building. This really is the jewel in the crown of the neighbourhood’s residential offering.” “The US based purchaser understood this was a unique opportunity, having viewed exhaustively with us throughout the West End, but was willing to pay a justifiable premium given the apartment’s rarity, prime position, level of finish and presentation, not to mention the extensive resident’s amenities." “We’ve seen an increasing demand for exceptional apartments throughout the West End during 2024, with a number of notable transactions completing this year. This is a clear sign that wealthy buyers, whether domestic or international, are no longer just attracted to the cachet of a specific postcode, but drawn as much by the character and lifestyle opportunities offered by some of the less traditional and more esoteric central-London neighbourhoods, so long as the product is right.” #deal #residential #sales #primecentrallondon #coventgarden #floralcourt #breakingrecords #happyclients #westend #development

We are going to sell 20 if these types of buildings in the next 2 years (4 on market now) - it is an amazing opportunity to buy buildings at scale with low expense growth (2A) and significant rental upside (Bushwick). Plus, we've seen 2 rate drops from Agency lenders in the last 3 weeks. Purchase these buildings at historically high cap rates and let the market do the rest!! Call / text me if you believe in this simple but effective strategy - 914-584-7422 828 Hart Street - Asking $3,950,000 (6%+ Cap) INVESTMENT HIGHLIGHTS: - 100% Occupied and 100% Collections with a real NOI of $237,000 - Recent Agency Debt quotes at 6.1% with option to buy down to 5.6% - Hart Street off Knickerbocker Ave, one block to Bushwick Park - Top to bottom substantial renovation offering turnkey management - 100% free market and tax protected - rent growth outpaces expenses - Perfect bedroom to bathroom ratio, with each bedroom has its own bath - Historically high Cap Rate - 20% Discount on 10 year average - L train access to Williamsburg and Union Square - Google "Bushwick Restaurants near 828 Hart" :) COLLECTED RENT ROLL: 1L - 3 BR / 3 BTH Duplex - $4,950 1R - 2 BR / 1.5 BTH Duplex - $3,500 2L - 3 BR / 3 BTH - $3,900 2R - 3 BR / 3 BTH - $3,900 3L - 3 BR / 3 BTH - $4,000 3R- 3 BR / 3 BTH - $4,050 Total Gross - $291,600 Expenses - $53,750 NOI - $237,000 Download Setup - https://lnkd.in/gvKP4fDN Rental Listings - https://lnkd.in/gb86Y3Tx Data Room with Plans - https://lnkd.in/gW4by6rM Team: Bryan Kirk Robert W. Moore Henry Hill Jermaine Pugh H. Michael Chardack Evan Kashanian William Cheng Bobby Lawrence

Thanks to Sharon Dale and the Yorkshire Post for including our comments in this latest article on house prices and the Yorkshire property market alongside Savills and Nationwide Building Society. You can read the article in the comments section below or visit our website for the full report. #BuyingAgent #Yorkshire #PropertyPrices #PropertyMarket