CASTLEFORD TIGER
14 Apr 2015
more good news Town Centre Securities and GMI Construction have secured planning permission to build an eight-storey office block on a parcel of land close to some of Leeds' best-known addresses including No 1 Whitehall Riverside and the Wellington Place scheme. The as yet unnamed building is earmarked for a vacant 0.6-acre brownfield plot on Whitehall Road opposite the junction of Northern Street and would incorporate approximately 75,000 sq ft of lettable space, with typical floor plates of 10,000 sq ft.Located between Whitehall Road and No 1 Whitehall Riverside, the site, only 400 metres from Leeds train station, was home to Whitehall Soap Works between 1890 and 1959, then used as a toilet factory up until 1985 when it was cleared.Leeds City Council has now granted planning permission for the project after previously approving outline and two full planning consents for office and hotel developments on the Town Centre Securities-owned land.In a council report, the development's re-use of a long vacant brownfield site and potential for job creation are highlighted in support of the decision to grant planning permission.Plans drawn up by Cartwright Pickard Architects detail seven floors of office space with an exterior clad in dark anodised aluminium – similar to the nearby Leeds One office building on Whitehall Road.As well as the office block, open space is proposed to the west of the building adjacent to Whitehall Road. The square will also become part of the entrance to the new Whitehall Riverside development.
CASTLEFORD TIGER
09 Apr 2015
more lettings Town Centre Securities (TCS) has entered into a ten-year lease with Yorkshire butcher Crawshaws Butchers, to secure the opening of its 24th store at the Merrion Centre.The latest venture will see Crawshaws Butcher open its first Leeds city centre shop unit and recruit 12 to 15 staff members over the next few weeks.Crawshaws' opening is the first step in the group's plans to grow its portfolio to 200 stores over the next eight years. The new 962 sq ft store will receive a full refurbishment before opening its doors mid-May.Kevin Boyd, managing director of Crawshaws Butchers, said: "We can't wait to open the doors of our new Merrion Centre shop."After a three year wait I've finally got the site that I've been looking for. It's a fantastic centre with great footfall and it's a really up and coming area – the Arena Quarter is growing all of the time and we’re excited to be part of it."The Merrion Centre also welcomed the new Taiwanese bubble-tea shop, Bubble Bubble, at the end of March, which has recruited two full-time members of staff and has room for three additional part-time recruits over the six-month lease.Bubble Bubble's opening follows a £10,000 investment into the store located in the mini market.Helen Green, associate director for TCS, said: "The centre is evolving and changing, as highlighted by the recent car park redevelopment and the Merrion Centre's Arena Leisure offering, but it is still ensuring that it keeps its core customers and offers value."
bonanzo
20 Mar 2015
breaking £3 The £3 barrier has been broken.Net asset value continues to grow.Good future car park growth plans and continued strong leases to commercial tenants means this has much much further to go.
LoadsaDosh2
25 Feb 2015
Re: Prepare for strong results Assets up but earnings down. Dividend well covered but it is only 3.63%. DSC trading update was very good and they are paying a special dividend too of 8p. Their asset value is also higher relative to the share price than TCSC.
bonanzo
23 Feb 2015
Prepare for strong results Strong Interim results due out tomorrow.Will edge closer to the £3 mark.
bonanzo
22 Jan 2015
Best Year Ever The Merrion Centre has reported a remarkable 11.2 million visitors in 2014 – the highest on record since it opened 50 years ago.The impressive figure is a five per cent increase year on year for the city centre site.As part of a £50million refurbishment, the centre recently invested £9million on its car park and £13million on its Arena Leisure Quarter on Merrion Way, opposite the First Direct Arena.New occupants include LAB bar, the Proper Sandwich Company, Costa, MFA bowl, Pure Gym and Korean barbecue restaurant Bulgogi Grill.During a busy concert season for the arena, the restaurant’s sales went up by a huge 60 per cent between December 2 and 12.Edward Ziff, chairman and chief executive of Town Centre Securities, which owns the Merrion Centre, said: “It fills us with pride to see so many people taking advantage of our fantastic retail and ever growing leisure offering.“We’ve had over half a million more visitors in 2014, compared to 2013.“Helped by the regeneration of the area and the impact of Leeds’ First Direct Arena, the Arena Quarter on a whole is prospering and the Merrion Centre has experienced an increase in capital value over the last year.”He added: “We strive to offer choice and variety to our customers and will continue to extend our offering.”The centre is now 97.5 per cent let and recent developments include Peacocks moving into a new prime location and extending its lease for another 10 years.The fashion brand has been a part of the Merrion family for the last 15 years.My Thai, which invested £50,000 in a new restaurant at the centre in November last year, has already seen success after reaching its six month sales target within just four weeks of trading.Mr Ziff added: “We are extremely proud of what we have achieved.“We have more developments in the pipeline for 2015 and believe Leeds Arena Quarter will be an even more exciting destination by the end of the year.”
CASTLEFORD TIGER
19 Jan 2015
Last chance to buy with a 2 at the front.I expect further rise in NAV and the shares to move to 300ptiger
CASTLEFORD TIGER
09 Jan 2015
Leeds So so Strong!! Headline office rents in Leeds will rise to a record £28 per sq ft by the end of 2016, according to new figures released by Knight Frank. The property consultancy said the broadening economic recovery was feeding through to improved occupier demand.This, together with the diminishing availability of grade A stock and lack of significant speculative development completions over the last few years, is driving rental growth in Leeds.Elizabeth Ridler, office agency partner at the Leeds office of Knight Frank, said: "The office market in Leeds is recovering from the difficult recent years. Grade A rents are now more than £26 per sq ft, their highest for five years, and are expected to rise further over the next two years."This reflects not just a shortage of quality stock, but also a surge in confidence. It has led to a return to serious speculative development and now the Leeds city skyline is welcoming back cranes."Recent deals such as the acquisitions of Yorkshire House and City One, the biggest development site in the city, underpin this optimism."
