Greetings Harkalm Community!
Welcome to the June 2024 edition of our newsletter!
As we approach a likely Labour administration, we are hopeful for a fresh outlook to the real estate sector and some much needed reforms in our planning system. Meanwhile, the Bank of England has signalled its readiness to start cutting rates, with a potential reduction in August firmly on the table.
It has been an exceptionally busy few month at Harkalm House. Our team has been involved in numerous activities, including our recent England Euros event. We all hope that Gareth can rally the troops and that England dazzles in the knockout stages, providing the country with a much needed boost!
In terms of property transactions, I am pleased to report we remain active across all our core sectors: high street, roadside, convenience, and education. I am particularly delighted to have completed six high street transactions this year, including a portfolio of vacant former banks. Q2 has seen significant progress, and as we reach the midpoint of the year, we have achieved a staggering 27 acquisitions totalling nearly £32.5 million, putting us ahead of schedule to meet our annual target of £50 million of purchases for 2024.
I am excited to announce the launch of The Harkalm Joint Venture Fund. This initiative opens up a fantastic opportunity for collaboration with Harkalm, designed to facilitate joint ventures with our network on high potential transactions. By participating, our network can leverage our extensive resources, expertise, and market knowledge.
If you would like more information on how to get involved, please do not hesitate to reach out. We look forward to officially launching this exciting initiative after the summer.
As we look ahead to the remainder of 2024, our pipeline is filled with exciting projects that we look forward to sharing with you.
Thank you for your continued support.
Adam Harvey
CEO and Co-Founder
PROPERTY HIGHLIGHTS
ACQUISITIONS
FORMER BANK PORTFOLIO, GREATER LONDON
We are excited about our latest acquisition: four freehold high street banks located in prime London suburbs. These quality buildings offer excellent repositioning opportunities, with plans to lease the ground floors and convert the upper floors.
This strategic move aligns with our ongoing commitment to enhancing our portfolio and maximising property potential.
OLNEY, BUCKINGHAMSHIRE
We are pleased to have acquired a mixed-use retail parade in the picturesque market town of Olney, known for its vibrant community and bustling high street. The strength of the location and variety of asset management opportunities offered by the building makes it a valuable addition to our growing portfolio.
The purchase of this property showcases our continued appetite to invest in high street retail across the country.
BENTON, TYNE AND WEAR
Our new exciting project in Benton, a former social club on a 1.3 acre site. We’ve been granted planning permission for educational use, allowing us to transform this space into a much-needed community asset in the North East of England.
This development is not just about repurposing a building, it’s about enhancing the local educational infrastructure and supporting community growth. We believe that this new facility will play a vital role in meeting the educational needs of the area and providing a space that the entire community can benefit from.
PLANNING
MCDONALDS – FAREHAM
After many months of negotiating with three separate landowners, we are delighted to announce that we have submitted planning for our new roadside development. The application seeks to obtain consent for a new McDonald’s Drive Thru with access off Southampton Road.
We hope the planners are ‘Lovin’ it’!
Find our Annual Review Brochure here
DEVELOPMENTS
STARBUCKS – FAREHAM
We are delighted to announce that we have recently exchanged contracts with Starbucks for a new café in our Chippenham High Street development. The Starbucks unit will feature a return frontage overlooking the River Avon, offering customers a beautiful view. With Starbucks joining Tesco in our tenant line-up, we’re excited to see the building become operational again, bringing new life to this part of the High Street.
LATEST NEWS
COCKTAIL PARTY
We recently held our annual cocktail party, warmly welcoming our partners to the office. It was a fantastic evening filled with great food, drinks, and company.
We’re already looking forward to next year!
EUROS EVENT
TEAM ACTIVITY
We successfully completed Tough Mudder!
It was an incredible team bonding experience that brought us even closer together. We faced every obstacle head-on and supported each other through every challenge, from the muddy trenches to the towering walls.
Participating in Tough Mudder not only tested our physical endurance but also strengthened our unity and teamwork. It was an unforgettable experience that we believe everyone should try at least once.
If you haven’t given it a go yet, we highly recommend it!
CHARITY
Our very own Joe Isaacs, Associate Director of The Harkalm Group recently tackled the challenging 54km Maratrail du Saint Jacques run. Running for the Harkalm Foundation, Joe’s dedication and endurance not only highlighted his personal commitment but also helped raise awareness and funds for our charitable initiatives. We are incredibly proud of his achievement and the positive impact he’s made.
WELLNESS
We invited Lara Stapleton, a Hatha/ Scaravelli Inspired Yoga teacher to our offices recently to run a special class for us. Lara’s mindful guidance through grounding movements and meditative breathwork created a peaceful and rejuvenating atmosphere, away from our desks, and left us feeling centred, refreshed and ready to tackle the rest of our week with renewed energy and clarity. We’re very grateful to have had the chance to experience the gentle but profound power of Lara’s teachings, and we look forward to welcoming her back to Harkalm House for another session very soon.
Find out more about Lara Stapleton
We also had the pleasure of welcoming Leo Chui into our office. During his visit, Leo shared his extensive expertise in treating musculoskeletal pains and sports injuries, providing our team with valuable insights and practical advice. He offered personalised tips for managing common issues such as knee, ankle, shoulder, and back pain, and demonstrated techniques in acupuncture and strength and conditioning. Leo’s visit was incredibly beneficial, leaving us all better equipped to manage our health and well-being. We are grateful to Leo for his time and for helping everyone in the office.
Click here to learn more about Leo Chui on Instagram
TEAM UPDATES
PROMOTION
We are delighted to announce Marie-Helene Cuckow’s well-deserved promotion to Chief of Staff at Harkalm! Over nearly a decade, Marie-Helene has shown unwavering dedication and outstanding contributions, setting the highest standards of professionalism and performance. Her remarkable journey includes organizing our events calendar, spearheading HR initiatives, managing properties, overseeing office operations, and nurturing The Harkalm Foundation. Joining us in 2014 when our team was just five members strong, Marie-Helene has been instrumental in our growth and success.
Thank you for being an integral part of the Harkalm journey.
Here’s to a year of innovation, collaboration, and unparalleled success!