6 | 2017 Belfast Telegraph Property Awards in association with
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HE award for Property Deal of the Year sponsored by Wilson Nesbitt was presented for the second year in a row to Lambert Smith Hampton for the acquisition of Cloghan Point Oil Terminal for the LCC Group.
Property Deal of the Year Sponsored by Wilson Nesbitt Solicitors WINNER Lambert Smith Hampton HIGHLY COMMENDED Lisney SHORTLISTED Lambert Smith Hampton
Neil Logan, partner at Wilson Nesbitt, presented the award to Ian Harbinson, associate director on behalf of director Stuart Draffin. Commenting on the success, Stuart Draffin, head of agency at Lambert Smith Hampton in Belfast, said: “We are delighted to have won Deal of the Year for advising on the successful acquisition of Cloghan Point Oil Terminal for LCC Group, one of Northern Ireland’s leading family-owned companies. “The terminal is an important, strategic, core infrastructure asset for Northern and Southern Ireland and this is the first time it has been owned by a Northern Irish Company. The purchase and subsequent investment has the potential to alter energy costs for Northern and Southern Ireland. “This is the second year in a row that we have won the Deal of the Year award, with last year’s recognition for the sale of Ballykelly Army Barracks.” Lambert Smith Hampton has worked for the family-run Cookstownbased LCC Group for six years. Initially set up to provide coal to the domestic market, the Group now supplies coal, oil, electricity, natural gas and logistical freight services to homes across the UK and industry worldwide. Because of its long standing relationship with the company and its in-depth knowledge of their business, Lambert Smith Hampton identified the opportunity to purchase the Cloghan Point Oil Terminal off-market and approached the Group with the idea. Cloghan Point Oil Terminal on the shores of Belfast Lough, near Carrickfergus, was originally opened in the 1980s by Northern Ireland Electricity to supply Kilroot and Ballylumford Power Stations. It was later refurbished by AES in 2011.
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The facility has a jetty which stretches 1,225 metres into Belfast Lough with a depth of 17 metres water draft. LCC plan to invest £15m to enhance the facility, after which it will be the only commercial terminal in Ireland able to facilitate the docking of 120,000 tonne tankers. Currently most tankers docking in Irish ports are no larger than 15,000 to 20,000 tonnes. Lambert Smith Hampton negotiated terms on an off-market basis, co-ordinated the exchange and delivered completion within five days. LCC hope that being able to dock larger vessels will bring significant benefits to consumers and industry in the long run, as the increase in supply Pamela Ballantine with Neil Logan, Partner in Wilson Nesbitt who presented logistics and efficiencies lead to a reduction in price that can be passed on Ian Harbinson, Associate Director of Lambert Smith Hampton with the Property Deal of the Year Award to the end user. Lambert Smith Hampton had the across every sector both private and associated with breathing new life back into foresight to bring the deal to the compublic. They are involved in all areas the historical buildings. pany after recognising the potential of commercial property, from capital Derek Wilson of our judging panel said: opportunity it could provide to grow markets and construction consultancy, “The judges were impressed by the sale on LCC’s business. to management of the most complex a number of fronts. It involves the sale of an The judges described the deal as im- property portfolios. extensive irregular Brownfield site of culturpressive, with Derek Wilson commental and heritage importance but which has ing: “The unique physical attributes of many challenges, having been derelict for the site will, on further development, some years in poor condition. allow for the importation and storage FINALISTS “This is exacerbated by the fact that of larger capacity oil deliveries than Belfast Company Lisney was Highly Commany of the buildings on the site retain listare currently possible elsewhere. mended in the Property Deal of the Year ed status and the area suffers from heavy “This gives access to supply sources category for its work on the sale of Hilden levels of contamination. and world markets not presently servMill to the St Francis Group. “The ‘added value’ approach to the deal ing Northern Ireland. Established more than 80 years ago, Lis- will allow for complete refurbishment as “The investment should benefit the ney is the largest independent firm of propa mixed-use river front scheme which will local economy, not just in job creaerty consultants in Ireland. greatly enhance the local community.” tion but also potentially cheaper fuel In May 2017, the firm secured the sale Winners of the category Lambert Smith prices. The judges were particularly of the iconic Hilden Mill complex in Lisburn Hampton received their award for the impressed that the transaction was to English-based Development Company St acquisition of Cloughan Point Oil Terminal concluded in five days.” Francis Group for a price seven times great- and were also shortlisted for their work in Lambert Smith Hampton is the larg- er than the initial off-market bids. the complex sale of a portfolio of mixed use est commercial property consultancy The successful sale of the long vacant properties in East London for £35m. Also in Northern Ireland offering a naproperty was deemed significant, not only shortlisted twice were Savills for the sale tionwide service. The company works as a boost for the local economy, but for of CastleCourt Shopping Complex and hanwith investors, developers and tenants the wider cultural and heritage importance dling the letting of Erskine House.
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Residential Development of the Year Sponsored by First Trust Bank WINNER Lotus Homes HIGHLY COMMENDED Richland Group SHORTLISTED Olympian Homes Fraser Houses NI Davcrow Ltd
HE winner of the Residential Development of the Year award sponsored by First Trust Bank was Lotus Homes for its Mill Meadows development on the Millvale Road in Bessbrook. Derek Wilson, head of mortgage strategy & distribution at First Trust Bank, presented the award to Paul O’Rourke, residential development director of Lotus Homes. It is the third year the company has picked up the award and a delighted Mr O’Rourke said: “We recognise there was very strong competition this year and Lotus Homes is delighted to win with our Mill Meadows site. It was a great day.” Centred around Bessbrook River and nestled within a woodland on the once overgrown site of a derelict mill, the development of detached and semi-detached houses has regenerated this part of Bessbrook. Lotus Homes was delighted to obtain the land and saw it as an opportunity to address the issues of housing need as laid out in the Newry, Mourne and Down Housing Investment Plan, 2015. With a growing population in the area, demand far outweighed supply and many local people wanted to own their own home. Mill Meadows offered the ideal solution for first time buyers to get on the property ladder with house prices starting at £129,950 for a spacious three bedroomed semi-detached house with private driveway and gardens, completed to a turnkey finish. Each home owner was invited to make their own selection of finishes to ensure their home fully met their needs and reflected their personal tastes. The residential layout on the site was set out to fully respect the river, with houses overlooking this natural
Judge Padraig Venney commented: “This is a builder who engaged early with all interested parties, archaeologists and the Environment Agency to ensure every consideration was given to the scheme. “Lotus has a brilliant product that lends itself to modern family living. They have continued in their quest to be one of the best residential developers.”
Pamela Ballantine with Derek Wilson, First Trust head of mortgage strategy & distribution, as he presents Samantha Shannon and Paul O’Rourke, from Lotus Homes (UK) Ltd, with their award for Residential Development of the Year
feature to create a sense of place. Due to its instability the mill was carefully demolished but not completely removed to ensure a physical visual link to the site’s history. The lowered walls now provide an attractive enclosure to two of the sites. The trees within the woodland and the development site are protected and due care and attention were tak-
en to ensure that they were not damaged during construction. The company also planted new indigenous species of trees in common areas and in hedges along with shrubbery to further enhance the site. The judges noted that the development went some way to meeting the housing needs in the area as well as the challenges facing Lotus working in a tricky archaeological site.
FINALISTS The Richland Group’s Belfast apartment scheme The Gallery was Highly Commended. It had been a vision of The Richland Group to develop the international model of compact living and over the past three years the design team realised this with The Gallery on the Dublin Road. The inner-city site allowed the company to target the market for people who want to live right in the heart of the city centre. This principle was used to maximise the potential of the site using a typical 400 sq ft apartment footprint allowing 58 apartments as opposed to 40 at 600 sq ft. The high density solution is the first example in Northern Ireland and it will enable city centre living to become much more affordable. Take up exceeded all expectations with all 58 apartments sold. Judge Nicola McCrudden commented: “This development is a check list of how to do city centre living – creating stylish apartment living complimented by retail space and a cafe while bringing regeneration to the area. “ Shortlisted in this category were Olympian Homes for the redevelopment of Great Patrick Street, Fraser Houses NI LTD for Rivenwood housing development in Newtownards and Davcrow Ltd for Cultra Station housing development.