As we bid farewell to 2024, it’s time to reflect on an exciting and productive year at John D Wood. From groundbreaking lettings to strategic acquisitions and successful investment transactions, our journey through the year has been we’re incredibly proud of as a team. Read on for a round up of our key achievements and milestones.
Kicking Off the Year with Successful Lettings
We kicked off the year on a high note by successfully letting a vacant unit at 10 Jamestown Road in Q1 2024, following our acquisition of the mixed-use premises for a client in Q4 2023. This was a great moment for the team as we negotiated a 10-year lease with Shrimp Shack. Working with Danny as they opened their second location here was a pleasure, marking a significant milestone for both them and us.
In Q2 2024, we faced a new challenge at Greenwich Square when a previous lease was surrendered. We swiftly secured a new lease with Novo Gyms, expanding their facility to over 5,500 sq ft. As usual, we went above and beyond the requirements for our client and re-geared the lease to ensure an 8-year term for our client, showcasing our commitment to providing tailored solutions.
After successful lettings following the refurbishment of 22 Gilbert Street in 2022, we were once again tasked with marketing two suites following lease expiry. By Q2 and Q3, we had secured short-term tenancies for both office suites, welcoming a private equity firm and a property company to the premises. These transactions reinforced our ability to swiftly and effectively meet our clients’ needs.
Key Acquisitions Across the City
One of our standout transactions this year included acquiring a 7,000 sq ft floorplate on British Land’s Euston Road campus for a well-established accountancy practice. This acquisition supported their new tech-focused department, reflecting our capability to meet the evolving demands of the business world.
Later on the in the year, we acted on behalf of a gym operator, securing terms for a 10,000 sq ft site in Southwark, set for completion in January 2025. This acquisition marks their fourth location, with further expansion plans on the horizon for 2025. It’s always a thrill to be part of a client’s growth journey.
As Poke Shack’s acquisition agent, we recently went under offer to acquire a new site in Birmingham, anticipated to complete in Q1 2025. Poke Shack’s ambitions to expand across major UK cities like Brighton, Bristol, and Manchester align perfectly with our expertise in securing prime locations for growing businesses.
Strategic Investment Transactions
In 2024, we successfully acquired a mixed-use, multi-let investment in Wrexham for a private investor. With key tenants such as Nationwide, HSBC, and The Works, this property also offers vacant offices primed for alternative uses, showcasing our knack for identifying versatile investment opportunities.
In Guildford, we secured our sixth investment in five years for a private investor. This prime retail and office property not only comes with a strong reversionary yield but also offers significant potential once the vacant floor is let. It’s these forward-thinking investments that keep our clients returning.
We also negotiated the purchase of a 7,500 sq ft Freehold office in Zone 1, near Victoria Station. After successful lettings and lease re-gears, the property’s value increased by an impressive 30% within nine months. This transaction highlights our strategic approach to property investments.
Outside of London, in the suburbs, we acquired a development site at Aycliffe Road Church, Borehamwood for a local housebuilder. The site, with plans for residential and medical/educational use, was secured through an intense bidding process involving three rounds of formal bidding, underscoring our dedication and competitiveness.
Looking Forward to 2025
As we look ahead to 2025, several exciting opportunities are on the horizon. We’re bringing a 6,000 sq ft site in Barons Courts to market, ideal for a nursery. Additionally, we’ll actively seek more sites for our esteemed clients, including Mi Bolsa, Paris Baguette, and Poke Shack. The future looks bright, and we’re ready to seize every opportunity that comes our way.
If you have a property to sell that meets any of our requirements or are interested in hearing more about our lettings and sales services, we’d love to hear from you.
Cheers to a successful 2024 and to the exciting opportunities that 2025 will bring!
