Case Studies

Case Studies

Business Rates

The Lea & Perrins Factory, Worcestershire

The Lea & Perrins Factory, Worcestershire
Size:
119,000 sq ft
Client:
H J Heinz Company Ltd
Scope:

Daniel Watney successfully lodged and negotiated an appeal served on behalf of H J Heinz Company. As a result of our negotiations with the Valuation Office Agency, we were able to secure a Rateable Value reduction from £197,000 to £146,000, saving Heinz just over £150,000 in rate liability.

Original RV: £197,000
Agreed RV: £146,000
Reduction: 26%

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Business Rates

3 Hardman Square, Spinningfields, Manchester

3 Hardman Square, Spinningfields, Manchester
Size:
156,000 sq ft
Client:
Confidential
Scope:

Daniel Watney successfully reduced the Rateable Value on appeal and obtained empty rates relief on this Grade A office development in Spinningfields, significantly reducing the holding cost for the landlord while the property was marketed to let. The total savings in empty rates liability achieved on this building since November 2012 to December 2014 is in excess of £1,375,000.

Rateable Value: £1,180,000
Total Savings: £1.375m

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Business Rates

141 Moorgate, London EC2M

141 Moorgate, London EC2M
Size:
c11,500 sq ft
Client:
Various Tenants
Scope:

Building Works Appeal

Daniel Watney were instructed by various tenants occupying offices above Moorgate Underground Station to appeal against the substantial noise, dust and vibration disruption caused by the adjacent Crossrail redevelopment. As a result of the appeals Daniel Watney secured a 15% reduction in each of the tenant’s business rates assessment in compensation for the disturbances caused by Crossrail. In addition Daniel Watney secured a further 15% reduction in the overall level of assessment. The effect of these reductions produced combined savings of circa £165,000 to the various tenants within the building.

Original Rateable Value:£375,000 (Aggregate)
Agreed Rateable Value: £262,500 (Aggregate)
Reduction: 30%

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Business Rates

10 Rosebery Avenue, London

10 Rosebery Avenue, London
Size:
24,700 sq ft
Client:
QA Ltd
Scope:

Rating List Appeal on Offices in Camden.

Daniel Watney were instructed by QA Ltd to review their business rates assessment on their training centre on Rosebery Avenue in Clerkenwell, EC1. The rating team successfully challenged the excessive business rates assessment and secured a reduction in Rateable Value from £755,000 to £580,000, saving QA over £550,000 in rate liability.

Original RV: £755,000
Agreed RV: £580,000
Reduction: 27%

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Business Rates

Property Management

1-3 Pemberton Row, EC4

1-3 Pemberton Row, EC4
Size:
26,676 sq ft
Client:
MDDUS
Scope:

Acting on behalf of the freeholder MDDUS, Daniel Watney have been retained as Asset Managers for this multi-let building with air conditioning and passenger lift. Our role includes the project management of major maintenance and repair works, lease negotiations and open market lettings

Our building consultancy team and designers are currently undertaking a refurbishment of the building to upgrade the office space and enhanceme the main reception and common parts. The street presence is being improved by the provision of new entrance doors, lighting, and signage.

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Property Management

Aylesbury House, EC1

Aylesbury House, EC1
Size:
9,000 sq ft
Client:
Private Client
Scope:

Acting on behalf of the freeholder Daniel Watney have been retained as Asset Managers for this multi-let building with air conditioning, central heating and one passenger lift. The property generates a rental income of c£200,000 per annum exclusive. We undertake the management of:

- Suppler contracts;
- Statutory and regulatory compliance;
- The database of all tenants and suppliers;
- Service Charge within a capped level of c£8.50 per sq ft;
- Health, safety and fire risks and;
- Major maintenance and repair works.

We have advised on the feasibility of redevelopment and have an active leasing management scheme negotiating with all the tenants. Furthermore, our building consultancy team and designers are currently undertaking the renewal of the lift controls and lift car finishes.

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Property Management

Herbal Hill Gardens, London, EC4

Herbal Hill Gardens, London, EC4
Size:
60 residential flats & three commercial units.
Client:
Herbal Hill Gardens Limited
Scope:

Daniel Watney LLP was instructed to act on behalf of the freeholder, Herbal Hill Gardens Limited. The management of this building comprises of 60 residential flats, 31 of which are held on long leases with the remaining 29 being retained by the freeholder and let and managed by Daniel Watney, together with three commercial units, occupied by a private gym, a reputable restaurant chains’ head office and nationwide readymade natural food retailer.

There is also a formal residents association in place with whom we meet and consult with on major management issues.

Daniel Watney provide our client with a comprehensive management package which includes the preparation and management of annual service charge budgets, placing of insurance, rent collection, management of major internal and external refurbishment works, placing and control of all contracts (both utility and maintenance), implimenting and monitoring all maintenance works, full facilities management of all major electrical and mechanical plant and ensuring the building is fully compliant with all current health and safety regulations.

Furthermore, Daniel Watney strategically advise our client on development and planning matters as well as providing comprehensive reports to ensure that our client achieves maximum value from their asset.

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Property Management

Chelsea Walk, Fulham Road

Chelsea Walk, Fulham Road
Size:
22 residential units
Client:
Confidential
Scope:

Acting on behalf of a confidential developer, Daniel Watney manage 22 retained residential units for letting and day to day maintenance, covered by our 24 hour help desk. Additionally, during office hours our experienced property managers are on call for maintenance and management issues as well as inspecting the units mid-tenancy to monitor the condition of the properties.

Chelsea Walk was previously a parade of dilapidated residential units on Fulham Road. The original façade was retained and redeveloped in 2012 to produce a mix of residential units on the upper floors and commercial spaces on the ground floor. The 6 commercial units on this parade are also managed by our commercial department.

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Property Management

Lease Advisory

39 – 41 North Road, Omnibus Workspace, London N7

39 – 41 North Road, Omnibus Workspace, London N7
Size:
35,000 sq ft (GIA)
Client:
Omnibus Workspace
Scope:

Lease Renewal.

Acting on behalf of Omnibus Workspace, the tenant, Daniel Watney agreed a new lease for 15 years subject to a tenant only option to determine at the expiry of the 10th year at a rent of £215,000 per annum exclusive. The Landlord offered a new 10 year lease and quoted a rent of £285,000 per annum exclusive. This equated to a 32.5% saving and an additional 5 years of certainty should Omnibus want it by virtue of the extended lease term.

The property had been extensively improved by the tenant over the course of their occupation and Daniel Watney were able to agree that these improvements should be disregarded for the purposes of calculating the rent. The lease also technically expired in 2011 so the tenant was holding over. Therefore negotiations were progressed on a without prejudice basis in tandem with the Court Process.

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Lease Advisory

3rd Floor, 91 Goswell Road, London EC1

3rd Floor, 91 Goswell Road, London EC1
Size:
2,694 sq ft (NIA)
Client:
Helix Property Advisors
Scope:

Rent review.

Acting on behalf of Helix Property Advisors, the Asset Managers for the landlord, Daniel Watney settled an outstanding rent review. The passing rent was £71,391 per annum exclusive and following a lengthy negotiation with the tenant’s agent, Daniel Watney agreed a settlement at £103,500 per annum exclusive equating to a 31% increase.

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Lease Advisory

Units 4 & 5, 2nd Floor, 15-27 Gee Street & 66-74 Bastwick Street, London EC1

Units 4 & 5, 2nd Floor, 15-27 Gee Street &  66-74 Bastwick Street, London EC1
Size:
5,450 sq ft (NIA)
Client:
Eric R Khune & Associates LLC
Scope:

Acting on behalf of Eric R Khune & Associates LLC, the tenant, Daniel Watney agreed the settlement of an outstanding rent review. The passing rent was £84,800 per annum exclusive and the landlord quoted an increased to £177,800 per annum exclusive.

Daniel Watney negotiated and agreed a settlement of £140,000 per annum exlusive resulting in a 21.3% saving for our client.

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Lease Advisory

Commercial Agency

1-3 Pemberton Row, EC4

1-3 Pemberton Row, EC4
Size:
26,676 sq ft
Client:
MDDUS
Scope:

Daniel Watney sourced, negotiated and oversaw the acquisition of a floor within the prominent Midtown building ahead of representing MDDUS in the purchase of the freehold interest.

Following the purchase of the freehold interest, Daniel Watney have been retained as Asset Managers. Our building consultancy team and designers are currently undertaking a refurbishment of the building floor plates including enhancement of the main reception and common parts. The street presence is being improved by the provision of new entrance doors, lighting, signage and a canopy.

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Commercial Agency

UK House, 2-5 Great Titchfield Street, W1W

UK House, 2-5 Great Titchfield Street, W1W
Size:
27,000 sq ft
Client:
Essence Digital Ltd
Scope:

Daniel Watney represented Essence Digital Ltd a digital advertising agency in the Acquisition of Grade A offices in UK House, 2-5 Great Titchfield Street. Our role included an initial space planning audit, search for suitable premises, negotiation and management of the acquisition process through to completion.

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Commercial Agency

Building Consultancy

Giltspur Street, City of London

Giltspur Street, City of London
Size:
12,123 sq ft
Client:
City and Guilds of London Institute
Scope:

Daniel Watney sourced, negotiated and acquired the long leasehold interest on behalf of the City and Guilds of London Institute.

Following the acquisition, Daniel Watney project managed the full refurbishment of 5 & 6 Giltspur Street and the construction of a new office building and retail unit at 7 Giltspur Street. This included:
- Façade retention;
- Mini-piling and underpinning to existing basement;
- Services installations including ground source heating and cooling.

Awards:
This project was a Finalist in the Constructing Excellence in London and the South East Awards.
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Building Consultancy

Development

Well Grove, London N20

Well Grove, London N20
Size:
6.00 acres/2.43 hectares
Client:
Central Gospel Hall Trust
Scope:

Daniel Watney was instructed to manage the disposal of a site with residential planning permission. Having regard to the client’s objectives and timescales, we formulated a marketing strategy, implemented a highly effective campaign across multiple media channels and undertook a competitive bidding process.

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Development

Planning

Institute of Physics, London N1

Institute of Physics, London N1
Size:
0.06 acres
Client:
Institute of Physics
Scope:

Daniel Watney LLP was appointed by the Institute of Physics to submit a full planning application pursuant to the partial redevelopment of nos. 2-8 Balfe Street and nos. 35-45 Caledonian Road to provide a new state of the art headquarters for the society. Occupying 25,000sqft, the new location will secure a long-term home for the Institute and provide a landmark space for the physics community to congregate.

The scheme was taken to Islington’s planning committee on 5th February 2015, where the committee resolved to grant planning permission.

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Planning

Battersea Square, SW11

Battersea Square, SW11
Size:
0.19 ha
Client:
Royal Academy of Dance
Scope:

A collaborative approach across Daniel Watney’s in-house agency, development consulting and planning teams to secure planning permission for the residential redevelopment of the site prior to disposal, with the consequent higher capital receipt funding the purchase of new premises.

Concurrent with the work on the disposal of their current headquarters, Daniel Watney have been instructed to identify and purchase a new premises (50,000 – 70,000 sq ft) in south west London on behalf of RAD.

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Planning

Moberly & Jubilee Sports Centres, London W10

Moberly & Jubilee Sports Centres, London W10
Size:
0.66 hectares (Moberly) & 0.59 hectares (Jubilee)
Client:
City of Westminster Sports, Leisure & Wellbeing and Willmott Dixon Regeneration Ltd
Scope:

Daniel Watney LLP was appointed by the City of Westminster Sports, Leisure & Wellbeing and Willmott Dixon Regeneration Ltd to submit interdependent planning applications regarding the redevelopment of Moberly & Jubilee Sports Centres.

Undertaken across two sites in North West London, the schemes provide a state-of-the-art £17m sports centre on the Moberly site, whilst providing 155 residential units, retail floorspace and community facilities across both sites.

Planning permission was granted in December 2014 for Jubilee and in February 2015 for Moberly. Conditions are currently being discharged to allow for construction to commence on-site in March 2015.

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Planning