Southampton: CBRE performs well in tough market
CB Richard Ellis has announced its half-year results for the six months to 30 June 2008. EMEA operations maintained revenues in the first half of 2008 at levels comparable to the first half of 2007, despite the extremely challenging market conditions the real estate industry is encountering.
Neville Thompson, CBRE Central South managing director, commented: “We are very satisfied with our results for the half year in the Southern Region, particularly given how market conditions have impacted some of the other major UK cities.
“In the South we have seen similar levels of business for the first six months of 2008 (compared to 2007- which was a record year) and highlighted below are just some of the deals completed so far. The South coast has a history of being a relatively resilient marketplace which is much less affected by the more extreme swings in the cyclical nature of the commercial real estate market.”
Divisional Highlights
Agency
• Acquisition of 17,500 sq ft offices at Mitchell House, Southampton Airport for HSBC
• Sale of 166,000 sq ft offices/manufacturing complex at Alpha Park, Chandler's Ford to Hampshire Police Authority on behalf of Legal & General.
Investment
• Sale of 141,400 sq ft Yeoman's Industrial Park, Bournemouth to the Ilchester Estate on behalf of Sun Life Unit Assurance.
• Sale of 115,000 sq ft industrial estate and 1.3-acre development plot at School Lane/ Brickfield Lane, Chandler's Ford to Store Property on behalf of Resolution Asset Management.
Development
• £100m acquisition of East Park Terrace, Southampton for mixed use regeneration scheme
• 17.8 acre residential development site in Downham Market, Norfolk sold for clients
• High-value development consultancy services for national housebuilder clients on major sites in Hampshire and Wiltshire
• Progressed the sale of the former Hampshire Brewery for a major village centre mixed use regeneration scheme
Asset Management
• Appointment by SEEDA to manage Hythe Marine Park, the 12-acre former US military base adjoining Hythe village centre.
Building Consultancy
• 100% increase in turnover for first half of 2008 compared with first half of 2007.
Occupier Representation
• Significant increase in rent review and lease renewal work – with most tenants Renewing Lease. Increased success on Rating Appeals – including for the public sector including NHS Trusts.
