Tag: wareing and company

How did Warwickshire’s commercial market fare in 2024, and what will 2025 have in store?

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Against a somewhat challenging economic and political climate, we catch up with Jon Blood of Wareing & Company to discuss the how the commercial property market fared in Warwickshire in 2024, his predictions for 2025 and most importantly, what belongs in a Christmas dinner…

 

How did you find the last year?

As we wrap up 2024, it’s fair to say that Warwickshire’s commercial property market has been a lot busier than in 2023. We didn’t kick off the year with huge amounts of optimism, though. The interest rate hikes from 2023 had left many investors feeling cautious, and with a General Election looming, a lot of people were waiting to see how things panned out.

But the election was called earlier than expected, and by summer, the market really started to pick up speed. Retail, in particular, came alive, with many deals being completed in the latter half of the year.

 

What were the key economic challenges?

The year wasn’t without its hurdles. Early on, the impact of those 2023 interest rate hikes still lingered, and investor confidence was relatively low.

Interest rates eventually stabilised, which helped, but the economic backdrop still had its tricky moments. The government’s Budget could have been better for smaller businesses with the rise in National Insurance Contributions impacting their spending, but its overall commitment to building is a positive sign.

 

And what about sector-specific challenges?

Different sectors had their own issues to navigate outside of the overall economic outlook. In retail, there was a bit of a slow start before rents finally rebased after the pandemic, which paved the way for the sector’s resurgence later in the year.

The industrial market had a steady year. Warwickshire’s excellent location and transport links kept things ticking along nicely, even if it didn’t see the same surge as retail.

The office market was less active. With hybrid working now firmly the norm, landlords and businesses were understandably cautious about investing in office space. ESG (environmental, social, and governance) considerations also played a big role, making it clear that the office sector is still figuring out its place in a post-pandemic world.

 

What positives did you take from this year?

Plenty, actually! Retail had a fantastic comeback in the second half of the year. Seeing brands like Jo Malone London and Gail’s Bakery choose to set up shops on Parade and Regent Street respectively in Leamington Spa was a real boost for the area. It’s always great to see big names putting their confidence in the region.

The industrial sector also had its wins. Bracco, a global medical firm, took space at Titan Business Centre in Warwick, showing how businesses are still drawn to Warwickshire’s fantastic connectivity.

Even the office market, with all its uncertainty, delivered some exciting moments. One standout was letting around 20,000 sq ft at Imperial Court in Leamington to Lighthouse Games. It’s one of the town’s most prominent office spaces, so seeing a company of their calibre move in was a real highlight.

 

What are your expectations for 2025?

Looking ahead, there’s a lot to feel optimistic about. Flexible office spaces are likely to become even more popular, with companies leaning into the ‘hub’ model — places where staff can pop in and out as needed. Flexibility is king these days, and businesses are happy to pay a little extra for high-quality spaces that offer just that.

If the Bank of England keeps interest rates steady — or, better yet, brings them down as some are predicting — then we could see even more activity across the board. The government’s focus on housebuilding and growth could also help boost confidence, but investors will want to see tangible progress, not just promises.

Quality will continue to be the driving force. Businesses and investors have become much more discerning, and sub-par spaces just aren’t cutting it anymore. As we step into 2025, we’re ready to help keep Warwickshire’s commercial property market moving forward and thriving.

 

And finally – what is your favourite part of Christmas dinner?

I always look forward to a delicious Christmas dinner, but the food I absolutely must have on my plate are pigs in blankets. Chipolatas wrapped in bacon – you can’t beat it!

I hope everyone enjoys tucking into their own Christmas meal and having a well-deserved break at the end of another busy year! From myself and everyone at Wareing & Company, have a Merry Christmas and a Happy New Year!

 

Jo Malone opening in Leamington after Wareing & Company agrees deal

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Luxury perfume brand Jo Malone London is set to open in the centre of Leamington in time for Christmas after Wareing & Company secured the move.

The new store will be opening at 67 Parade on Friday December 13th.

The company, which has more than 50 stores in the UK, is in the process of moving into the 1,523 sq ft unit which sits between Santander and Specsavers.

Rachel Baker, UK General Manager of Jo Malone London, said: “We are delighted to announce the news of our new Jo Malone London store opening in Leamington Spa.

“This elegant Regency town located in the heart of Warwickshire offers a sophisticated setting for Jo Malone London with its regal architecture and renowned spas.

“We believe that Leamington Spa’s charm and rich heritage perfectly complement our brand’s dedication to timeless elegance.”

Jonathan Blood, Director at Wareing & Company, added: “Jo Malone London is a highly-recognised brand that will be an excellent addition to the many great stores on Parade.

“This deal once again shows that the retail market in Leamington is more resilient than many other towns, and that big names are prepared to move in once the right unit is found.”

Car wheel specialists moving back to old Warwick home after 40 years away

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A supplier of wheels for modern and classic cars, which boasts customers from as far away as Australia, is set for a move back into its old Warwick home after more than 40 years away after Wareing & Company agreed a deal.

John Brown Wheels is in the process of moving into the 22,224 sq ft Taylor Group House on Wedgnock Lane following the deal’s completion.

The firm designs replicas of alloy wheels for a range of modern vehicles as well as classic cars in need of an upgrade, from tiny wheels for 1960s Minis, to larger wheels for classic Volkswagen Type 2 campervans, and supplies to both the public and the trade.

Founded in 1972 in Coventry, John Brown Wheels was founded by the late Jonathan Brown and his brother Chris, who started off storing wheels in their bedroom and directing customers to call a telephone box between 6 and 8pm for any enquiries.

After a loan of £100 from their mother, the brothers grew the business and eventually opened 16 branches around the UK while basing itself at Wedgnock Lane in the 1970s and 1980s.

In that time, John Brown Wheels built up a strong reputation among classic car enthusiasts both in the UK and abroad, with orders being shipped as far as Japan and Australia.

However, after two decades at its current premises in Stockton, Chris and his son Rich felt the time was right to find a new premises to help the business grow.

During a visit to Warwick, Chris happened to see that Taylor Group House was up for sale through Wareing & Company, and called the agents soon after.

From left: David Brown (John Brown Wheels), Chris Brown, and Jonathan Blood inside Taylor Group House
From left: David Brown (John Brown Wheels), Chris Brown, and Jonathan Blood inside Taylor Group House

 

He said: “When I saw Taylor Group House was up for sale, I thought it was fate.

“Our premises in Stockton was becoming a little tired and we were in need of a new place to call home. But I never thought we might be able to move back to our old place in Warwick.

“I was initially told the premises had just been sold, which was a real shame. But a couple of months later, Jonathan Blood at Wareing called me back to ask if I was still interested as the original deal had fallen through. I said I was and we quickly arranged a viewing.

“Seeing the building again on our first viewing brought back a lot of memories – not only of our success there, but of my brother too. The decision to come back just felt right.”

John Brown Wheels is now in the process of fitting out Taylor Group House and transferring its inventory over, with a planned opening date in the new year. It is also hopeful of hiring new staff once the company moves in.

“Demand has generally been good in wholesale and export, and we’re hopeful the retail side of the business is picking up too,” Chris added.

“And Warwick is a busy town – the Wedgnock Industrial Estate is full of useful suppliers for us and we expect business will move more quickly once we’re moved in.

“We think our move back to Warwick will be a real step forward for John Brown Wheels, and we’re really looking forward to being back in the town and grateful to Jonathan at Wareing for his patience in securing the property.”

Jonathan Blood, Director at Wareing & Company, said: “Not only is this a great example of a successful company choosing Warwick as their new base, but an incredible story for the Brown family.

“The business landscape at Wedgnock Industrial Estate was a clear draw for Chris, but the personal connection to Taylor Group House made it particularly appealing.

“We’re delighted to have made this deal happen for Chris and John Brown Wheels, and we hope their return to Warwick brings them great success.”

Wareing helps games company move into 20,000 sq ft offices in Leamington Spa

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A growing games company has shown its faith in the Leamington office market after moving into 20,000 sq ft of office space in the heart of the town as it looks to expand its team.

Lighthouse Games has moved into Imperial Court in Leamington Spa after Jonathan Blood, director at Wareing & Company, agreed a deal on the building.

The company, which recently received major investment from industry giants Tencent, is transitioning its staff from its old base in Marlborough House in Leamington to Imperial Court as the space across four floors is fitted out over the next few months.

It is now planning to grow its employee count significantly as it works on an as-yet unrevealed new project.

Nick Craig, Operations Director at Lighthouse Games, said: “We’d been looking for new offices for a while, as our old space at Marlborough House couldn’t accommodate our rapid expansion.

“The property ticked a lot of boxes for us – parking so any staff driving in can relax on their commute knowing they can easily park, close to the great local restaurants and bars Leamington has to offer so they can socialise together after work, and lots of space for us to expand.

Jonathan Blood, Director at Wareing & Company, said: “This deal shows Leamington’s office market is proving more resilient than other towns of its size, and also shows the faith the video games industry has in the town.

“Imperial Court is one of the most prominent office buildings in the town, and its versatility and ease of access were very attractive to Lighthouse Games.

“Leamington earned the nickname ‘Silicon Spa’ thanks to the high density of games companies in and around the town, and this deal only solidifies Leamington’s reputation as the place to be for the video games industry in the Midlands.”

New Nisa coming to Leamington after Wareing & Company strikes deal

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A new Nisa convenience store will soon be coming to a prime location in Leamington and will create 15 jobs in the town after Wareing & Company agreed a deal for a growing retail property business to buy the site.

The former Paperchase on 36 Parade in Leamington town centre will be replaced by a new Nisa store following the 5,709 sq ft building’s purchase by Dougall Group, a family-owned property company which owns a variety of convenience stores in the West Midlands and London.

The shop, which sits between McDonald’s and Flying Tiger Copenhagen and comes with a Pret A Manger-branded coffee machine, will open in September.

Ricky Dougall, director of Dougall Group, was informed of the opportunity by Jonathan Blood, director at Wareing & Company.

“We had been looking at opening a store in Leamington for a while, but we’d never been able to find a property that met all of our needs,” Ricky said.

“I’d been in contact with Jon on a previous deal that we didn’t pursue in the end, but we kept in touch because of our desire to find a Leamington site.

“When he told us about this opportunity – especially to buy rather than rent – we knew this was the site we were looking for.

“36 Parade is in an excellent location being right next to the main bus stops and attracting a high level of footfall.

“And the flexibility of Nisa being an independent retailer means we can adjust our stock depending on what our customers really need, and the Pret coffee machine will be a fantastic addition for those wanting a quick, quality coffee fix.

“We’re looking forward to opening in September and we’re confident Leamington will embrace the new store warmly. If all goes well, we’d be looking at potentially finding more sites in south Warwickshire to expand our portfolio further.”

Jonathan Blood, director at Wareing & Company, added: “It is rare for a property to be up for sale on Leamington’s Parade as opposed to a rental opportunity, and we’re delighted that Dougall Group has purchased the building.

“We had strong hopes for the site due to its enviable location on one of the busiest streets in the town in terms of footfall.

“It’s great news that 15 jobs will be created as a result of the store opening, and once again shows the strength of Leamington’s retail market compared to towns of similar sizes.”

The high street, a place to thrive for independent businesses

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Wareing & Company Commercial Property Director, Jonathan Blood, recently caught up with leading law firm Wright Hassall about why delivering social experiences is part of the way forward for our high streets, and why a solution to the high street isn’t a one size fits all solution.

“Over the past five to ten years, the nature of the high street has fundamentally changed, and for well-documented reasons – the most obvious being the major shift to online shopping. You only need to look at the vast increase in the number of delivery vans on our roads for evidence of this. The transition to online retail has had a concomitant impact on the uptake of industrial leases to accommodate the plethora of storage and distribution hubs needed to facilitate the digital shopping revolution.

“As a result of this, what we’ve seen on our high streets is an exodus of larger-scale retailers as they take their operations online or move them to retail parks on the outskirts of our towns. The knock-on effect has been a vast increase in vacant retail premises on our high street, a trend that had begun well before COVID-19 came along but which was then exacerbated by the fallout of the pandemic.

“We’re a small, regional firm and I can only comment from the perspective of our smaller market towns locally, but what we see is a fairly constant demand for smaller retail units, with independent businesses in the services industries as the primary tenants: hairdressers, coffee shops, more independent retailers, which do well in the local area.

“I receive a lot of feedback from people on the state of our high streets. There is a growing frustration in the amount of vacant units and lack of variety in those that are occupied. 

“I would hope that, as buildings become vacant and get re-purposed (mostly for residential on upper floors), the remaining retail space will provide opportunities for good quality, independent retail operators and we will see a return to more traditional retail offerings such as clothing shops, homeware shops, toy shops etc.

“There is now a stronger desire for social experiences our our high streets. Here in Leamington Spa, and in my home town of Stratford, it’s certainly the case that people still want to visit the town centre of a weekend – but they’re much less interested in browsing in the shops than they are in frequenting the cafes, bars and restaurants. So it’s much more about socialising, about meeting up with friends or relatives and making use of the town’s hospitality offerings.

“It’s interesting to see that even the retail parks on the periphery of our towns, which – as their name suggests – used to focus fairly exclusively on shops, are now also increasingly providing food and beverage offerings to attract footfall, which speaks to that increased interest among consumers for a social experience instead of just concentrating solely on the business of getting the shopping done.”

Leamington architects opening art gallery alongside studio after Wareing deal

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A chartered architects practice based in Leamington Spa is set to shake-up the high street with its latest move – by hosting a fine art gallery alongside the architects studio.

Rickett Architects is set to move into Regent Court, 2 Livery Street – the former home of fashion store Jaeger – from its current offices at 168 Parade in the town centre after Wareing & Company secured a deal.

Rickett Architects, which designs high density and affordable housing schemes, residential and care home buildings for clients all over the country, wanted to increase its presence in Leamington by moving into a ground-floor high street location.

But the move into the 1,944 sq ft unit on Regent Court is not just a simple office move. The bulk of the space will be dedicated to displaying and selling contemporary art from a range of regional and international artists in a concept Rickett Architects calls ‘Pavilion’.

Dan Rickett, Managing Director of Rickett Architects, said: “Through Pavilion, we wanted to bring the architects studio to ground level to improve our visibility, in addition to sharing the cost of space with complimentary uses to support our hybrid working policies.

“We are working with Gallery Director Kelly Childs who brings industry knowledge and unbridled enthusiasm for the project and knows a lot of up-and-coming artists through her work. It was through speaking to her that the idea for a combined space took hold.”

Dan saw that Wareing & Company were marketing the old Jaeger unit at Regent Court and thought the space could be perfect for the new venture.

“We want to use around three-quarters of it for the art gallery, and the rest for our architect’s studio,” he added.

“The idea is that the customer sees the fine art gallery first and this brings them in – and it’s also something that our clients can enjoy when they come to visit us in the studio.

“We’re also keen to make sure the art is at a good range of prices and supports local artists rather than focusing on exclusivity and prestige.

“Ultimately, we wanted to try a new model of getting an architectural business to viably have a presence on a high street. If successful, we will look to try and roll it out to other locations, with Pavilion being the anchor concept.

“We must thank Wareing & Company for their support too. They were very professional to deal with and made the process of securing the lease as smooth as it could have been. We can’t wait to move in.”

Bill Wareing, owner of Wareing & Company, said: “It’s great to see Rickett Architects trying something bold on the high street and combining office space with a different venture.

“Regent Court, 2 Livery Street is in a fantastic location in Leamington with plenty of footfall, so they won’t be short of people admiring the art on display.

“We wish Dan and the team all the best with the move and look forward to viewing the artwork ourselves.”

Kenilworth grassroots football team thanks Wareing & Co sponsorship to help fuel growing membership

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A Kenilworth football club with a rapidly-growing membership in the wake of the Lionesses’ success has thanked two local businesses after they renewed a sponsorship deal.

Kenilworth Wardens Junior Football Club will receive £2,000 from Talisman Shopping Centre and Wareing & Company after they continued to sponsor the shirts of all its boys’ teams following an initial deal made in early 2021.

The sponsorship will enable the club to help cover rising costs in running the not-for-profit, volunteer-led club, and allow its coaches to undergo new training courses now required by the FA.

Kenilworth Wardens has seen rapid growth of its membership – especially among girls – since the England women’s football team’s runner-up position at the 2023 World Cup and its triumph at the 2022 European Championships.

Andrew Watts, from Kenilworth Wardens, said: “A few years ago, we didn’t have a girls’ section at all. But thanks to the efforts of the Lionesses, it’s our fastest growing section with 70 players across six teams.

“We’re also seeing an increase in membership on the boys’ side too, which shows it’s not just young girls who England have inspired.

“Despite this success, pitch hire costs have increased which has not made things easy for us. Generous sponsorship deals can make such a difference to a club like ours.

“That’s why we must thank Talisman Shopping Centre and Wareing & Company for renewing their sponsorship – it really means a lot.”

Talisman Shopping Centre in the heart of Kenilworth has been home to independent Kenilworth businesses and well-known brands for a number of years.

Hugo Hawkings, chief executive of Discovery Properties, the developers of Talisman Shopping Centre, added: “Kenilworth Wardens does so much for the local community, and it’s great to hear how much their membership is growing in response to the higher profile of women’s football and recent success of the England women’s team.

“We were only too happy to renew our sponsorship, and we wish them all the best this season.”

Wareing & Company has acted on many key deals in Kenilworth including the recent letting of the former Poundland at The Square to Wetherspoons.

Bill added: “We first started this sponsorship when Covid-19 threatened the future of the club, which was a valuable lifeline to Wardens.

“And with the club looking towards the future as its membership grows, renewing our sponsorship was an easy decision.”

To find out more about Kenilworth Wardens and for information on joining the club, visit www.pitchero.com/clubs/kenilworthwardensfc or email kenilworthwardensjfc@gmail.com. For enquires about the girls’ team specifically, contact kwardensgirls@virginmedia.com

Julie’s efforts recognised with promotion

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Wareing & Co has announced the promotion of a valued long-standing member of staff.

Julie Bevan, who has been with the firm for almost 20 years, has been promoted to office manager.

Julie joined the firm in 2004 and plays an integral part in the business, managing the accounts, overseeing the Wareing & Co website and supporting with enquiries.

She has recently increased her hours and now works full time for the firm.

Julie, who lives in Leamington and has three children, said she is thrilled with the promotion.

She said: “I really enjoy my role at Wareing & Co and I am very pleased to be recognised with this promotion.

“No two days are the same in my job and I love that there is always something different to do.

“I have three children, but as my youngest is now 15 it has given me the opportunity to increase my hours and take on more responsibilities.

“I look forward to continuing to support the growth of the business in my new role.”

Jonathan Blood, director at Wareing & Co, said: “Julie is an extremely valuable member of the team at Wareing & Co.

“She has been with the business for almost 20 years – a fantastic achievement – and this promotion is very well-deserved.”

New Greek restaurant opens in Leamington after deal agreed

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The owners of a successful Warwickshire pub chain have opened a new Greek restaurant in Leamington town centre after a delivery version of the business proved popular during lockdown.

Taverna Meraki is the latest venture of Matt & Alex Crowther, owners of Pug Pubs Limited which operates The Royal Pug, The Fat Pug, and coffee shop Procaffeinate in Leamington, The Black Pug in Warwick, and The Lazy Pug in Shipston.

The new restaurant started life as a takeaway business during lockdown, which saw many customers order its food again and again.

It found its permanent home on Regent Street at the 1,553 sq ft site of the former Café Rouge after Wareing & Company secured a deal.

Matt said: “I’d always had ambitions of opening some sort of Greek restaurant as I’d worked there for four years and loved the food.

“When we founded our first pub, The Fat Pug in 2012, we asked our friend from Greece, Yannis, to come over and work with us at the business, with the possible idea of starting a Greek restaurant at some point.

“Pug Pubs did very well, but when lockdown hit, we realised our pub offering did not translate well to delivery and we needed to come up with something new.

“This was the right time for us to finally start our Greek food idea, firstly as a delivery business. Customers loved the gyros, souvlaki and other authentic Greek dishes we served up. When lockdown was lifted, we toured the business around various food shows, with a similar response from customers.

“It was amazing to see how well it did, and many people asked us where they could go for a sit-down meal. That was when we realised we needed a permanent restaurant.”

Matt approached Bill Wareing, owner of Wareing & Company, who took them through various options in the area before narrowing it down to a few locations.

And when Matt visited the former Café Rouge on Regent Street – which has stood empty for around 18 months – the decision was simple for him.

“I just knew it was the one,” he added. “We wanted a building in the centre of Leamington, preferably with existing amenities and that didn’t require too much work. And Café Rouge ticked all the boxes.

“Bill’s knowledge of exactly which units offered what was incredibly useful, and meant the process of finding a suitable base was far easier than it might have been.”

Bill added: “This building is in a great central location in Leamington, being right next to the Royal Priors Shopping Centre and many other restaurants.

“This deal is yet another sign that Leamington’s food scene is continuing to grow despite the external pressures on the economy.

“Taverna Meraki is a fantastic new addition to the town centre and to the Pug Pubs brand.”