Broadoak Asset Management – Broadoak Asset Management

Unlocking commercial property potential

The Broadoak team has over 120 years of combined professional experience working with some of the largest organisations.

We’ve helped develop more than 1 million sqft, leased in excess of 2 million sqft and managed over £700m of commercial property assets.

We have a track record of delivering outstanding results.

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About Us

Broadoak has a track record of delivering superior returns on Commercial Property in the North East of England and Scotland.

Our placemaking work has won us several awards over the years for the environments we have created in our commercial schemes. Awards have included CoStar Glasgow deal of the year in 2017, RICS North East Commercial award, Corporate Responsibility and Environment award at the Tyneside Business Awards and a Business in the Community award presented in London by Prince Charles in 2012.

Who we work with?

Principally we like to work in partnerships – with the private sector or the public sector from small projects to multi million-pound regeneration schemes. Our experience is in successfully delivering mixed use developments that create value and places where people want to be. Typically, we like to work with partners who share an interest in rethinking a formulaic approach to investment, who quantify the success of any project by its long term impact, socially and environmentally as well as commercially.

"Quorum Business Park won the RICS North East commercial award"

"We create value and improve property performance"

"Our placemaking has won us several awards"

Size
753,000sqft

Value
£33.5m

Clients
Cerberus,
Equiom,
Tritax

Size
104,000sqft

Value
£590,000

Clients
Cerberus,
Promontoria Quorum BV

600,000sqft leased to 30 major employers

Vibrant community with 6,500 staff enjoying 300 events per year

RICS Commercial award winner

Former Local Authority portfolio comprising over 1m sqft.

Purchased
November 2014

Substantial increase in net returns over a 4 year period.

Creation and commencement of substantial regeneration proposals across 5 key sites in Sunderland.

Maxim Office Park

Described by Estates Gazette as “One of the UK’s most notorious problem assets”. Broadoak were appointed Asset Managers in July 2015 and undertook the challenge of fully repositioning the asset:

Restructured management regime and on-site team
Reduced holding costs by 20%
New, highly focused marketing and PR campaign developed to reposition Maxim
Massively increased public transport to 185 buses the park per day
Secured additional amenity provision on site including retail, sports and electric car chargers
Introduced ‘flex’ leasing options and smaller suite options to capture demand

Successes over a short period of time:

Increased occupancy by 144,415sqft with 15 new lettings, more than doubling occupancy

In 2017, CoStar Glasgow deal of the year for the letting to Balfour Beatty (43,521sqft)

In 2018, concluded largest Glasgow letting (of standing stock) to Sitel (58,744sqft)

Late 2018 asset sale, exceeded owners price expectations and achievied 60% uplift on 2015 valuation.

Neon

Following completion of the building in 2012 it had remained vacant. In order to increase its flexibility and attractiveness in the market we repositioned and rebranded the asset by splitting the ground floor into small suites, split the first floor into 3 suites and left the 2nd floor as one 35,000 sqft floor plate.

The building was renamed Neon to give it a new vibe in the market.

Broadoak oversaw the project from initial ideas to appointing interior designers and contractors and project management of the works.
The reception entrance was refreshed with new desk, lighting and artwork.

The ability to split into 3 suites of 9,500sqft, 11,500sqft and 14,000sqft

Second Floor

Remains as a 35,000 sqft floorplate, one of the largest single floorplates in Newcastle

Following completion of this scheme 7 of the small suites were let within 6 months

Quorum Business Park

Quorum is one of the prime office locations in Newcastle consisting of 16 Grade A office buildings. The Broadoak involvement was over a 11 year period from initial construction through to the investment sale in November 2019.

Award winning place making with on site team delivering extensive events programme and occupier amenity
Leased over 600,000sqft to 30 occupiers including Greggs PLC headquarters, Balfour Beatty and Concentrix.
Major inward investment wins including Tesco Bank and Engie bringing over 2,000 new jobs to the North East.
Vibrant community with 6,500 staff enjoying 300 events per year.
RICS Commercial award winner.

Siglion Commercial Property Portfolio

Siglion is an innovative regeneration partnership formed in 2014 to undertake development on 5 key sites in Sunderland and oversee the management of a £27 million commercial property portfolio.

Asset and Strategic Investment management of the Siglion Commercial Property portfolio comprising over 1million sqft of varied uses including Industrial, Office, Retail, Leisure and Residential ground leases.

Increase in value by 20% over a 4 year period with increase in profit returns to client by more than 100%.

Portfolio value £27 million with an annual income of £4.6 million.

Siglion Regeneration Partnership

Siglion is an innovative regeneration partnership formed in 2014 to undertake development on 5 key sites in Sunderland and oversee the management of a £27 million commercial property portfolio.

The partnership began with 3 key development masterplans creating GDV in excess of £200 million:

1) Former Vaux Brewery – Creation of a mixed use masterplan for a 12 acre city centre site, commencement, delivery and completion of Phase 1 including pre-let agreement to Ocado as part of a major inward investment attraction.

2) Chapelgarth, South Sunderland – creation of a residential masterplan for a 100acre site and delivery of planning consent for up to 750 homes as part of 6 phase. Phase 1 site sale and infrastructure delivery.

3) Seaburn – creation of a leisure and residential led mixed use development masterplan. Phase 1 site sales to residential developers and hotel operators.