2011 was a year of flux in the region’s commercial property market. We witnessed two significant mergers.
The May 1 integration of Jeffersons into Carter Jonas took the market by surprise but was a sensible piece of business for both parties. As we wrote at the time, Jeffersons partners Ben Oughton and Will Mooney were always likely to add a commercial cutting edge to a Carter Jonas practice that at times could give the impression of being somewhat lacklustre.Mooney remains one of the best forensic brains in the marketplace in the UK, never mind Cambridge. The expanded Carter Jonas practice should enjoy a seminal 2012 now the merger has firmly bedded in.
The other merger – which took place a month earlier – was also rooted in rationale as Peter Layer, Jonathan Lager and Mark Robinson decided to merge their skills and form Robinson Layer LLP from Signet Court.
Peter Layer has worked in commercial property in Cambridge since 1974 and formed Layer Associates in 1990. Jonathan Lager was brought up in Cambridge but worked in London for both commercial surveying practices and property development companies before returning to general practice in Cambridge in 1989 and subsequently joining the firm in 1997.
Layer Associates’ great strength is in the professional side: Peter Layer is one of just a handful of RICS-appointed arbitrators in mid-Anglia. They also have a growing property management portfolio, which is supported by a sophisticated management software system.
Mark Robinson formed Robinson Property Consultants in 2002, having worked in Cambridge’s commercial property market since 1978. He has focused on agency work over a wider area – particularly in Ely and Newmarket in addition to Cambridge – but has a growing order book in the professional and property management sectors.
The combined firm has more than 100 tenancies to administer and sees this as a particular area of potential growth for the business.
2012 will be a crunch year for the Cambridge market in particular. Quite simply it is in danger of overheating. The depressed economy and nervous banks combined to strangle speculative development in 2011. Meanwhile growing Cambridge companies and relocating international businesses moving into the area snapped up the best of the prime office space.
The sage Dick Wise of Bidwells warned that a solution had to be found if Cambridge was to remain a honeypot for overseas investors in 2012 and beyond.
Developer Nic Rumsey is doing his best to take some of the overspill at his proposed new business park in Haverhill. Chesterford Research Park finally started the new Science Village scheme. Elsewhere, a scan of the horizon still shows too little new build for comfort. And lenders seem no less jittery.
Local agents will need to draw on all their experience and hope that landlords and developers of what space is available are as innovative and flexible as they can possibly be regarding terms. Off the shelf solutions simply won’t do for a dynamic technology sector where companies often need to grow fast from virtually a standing start.
It was growth among hi-tech and biotech companies last year that drove much of the local demand and ate up a large slice of supply. There are no signs of that demand abating but companies can only wait so long for a property solution before being forced to move elsewhere. Fortunately, the best agents locally have brilliant advisers; greatly experienced practitioners who know all the angles.
1 Savills
2 Bidwells
3= Lambert Smith Hampton & Carter Jonas
4= Cheffins & Barker Storey Matthews
5= DH Barford + Co & Robinson Layer
6 Januarys
7 Dodson Jones
8 Juniper Real Estate
Savills was recently named ‘Best Property Advisor, East of England’ by the Estates Gazette and that assessment chimes with feedback we receive on the firm. They take our stand-alone top spot this year. Special mentions should be made of Rob Sadler, a talented, bustling driver of deals, and the increasingly effective Will Neale.
Bidwells are a close second. Dick Wise runs a brilliant agency and there is talent galore through the likes of Michelle Cantwell and Harvey Bibby, with more bright young things coming through.
Lambert Smith Hampton is always near the top of the UK ratings in any national poll of the best performers and regionally it has had an excellent year. Andrew McGahey is an inspirational leader and has presided over a strong all-round performance by LSH locally.
Barker Storey Matthews has a good regional spread and the Cambridge team will be further enhanced by the arrival of Ben Green from Cheffins. Philip Woolner at Cheffins will be sorry to see Green go but the firm has full service offering and in-depth expertise that should stand it in good stead again in 2012. Some of its deals at auction last year defied the downturn.
Juniper Real Estate – courtesy Jamie Green and Mike Ayton – got up a head of steam last year which we expect to see continue in 2012.
• PHOTOGRAPH SHOWS: Rob Sadler, Savills





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