Kevan is co-founder of JK Property Consultants and is one of the most respected property and investment experts in the North East.
What is your role?
I am co-founder along with Jennifer Welch. We met via the Royal Institution of Chartered Surveyors and established JK Property Consultants LLP in 2007.
What is the main purpose of JK Property Consultants?
Despite the complexities that we are now seeing in the market, there is always a way forward and our role is to advise clients how to manage change, while standing by our culture and values, which are based on responsible and ethical business.
We have extensive experience in areas such as investment, acquisitions, regeneration and development, landownership, viability and funding, dispute resolution, purchase negotiation, expert witness, rent reviews, mediation arbitration and expert witness.
What is your proudest business achievement?
As part of a team of advisors, I played a role in the establishment of the Tyne & Wear Development Corporation in 1986. I was involved in its strategic direction, reporting directly to the Secretary of State. My work included the regeneration of the East Quayside at a time when Newcastle was not recognised as a prime office destination. With others, I purchased all the land for the Corporation, established the commercial scheme and saw this through to delivery. In total, we made available 300,000 sq ft of offices on the Newcastle Quayside. Half of the site was also sold to Wimpey for apartments with an overall value of £300 million.
I was also proud to be asked by Newcastle City Council to advise on a market strategy for St James Boulevard and Gallowgate, to include a plan for one million sq ft of property – which, today, includes landmarks such as the Helix.
What type of projects are you currently working on?
We are exceptionally busy and are currently on our fourth consecutive dispute advising as expert witness regarding land for housing through option agreements, which have a total value of £350 million.
We have also received instructions for the sale of a 10,000 sq ft prime office building at Team Valley, the letting of the 15th century Merchant’s House on Newcastle Quayside, 30 acres of former industrial land in South Shields, three acres in Jarrow town centre and advising on the development of a farm steading for housing and commercial use.
What are the biggest challenges in the market at the moment?
The property market, through the impact of the economy and government intervention, is being disrupted greatly and going through a period of turbulence and change, which means investors are currently nervous and confidence is low. The region has to do as much as it can to help stimulate growth. We must come together for the benefit of us all and the enlarged combined authority together with an elected Mayor can be the catalyst we need to move forward.
The drive to sustainability in buildings will be a challenge in finding ways to create viability. This cost/value approach will require guidance and delivery of changes.
What do you think are the opportunities going forward?
The region experiences lower peaks and troughs in the property market and it always bounces back. There is great talent and an entrepreneurial spirit in the North East and I am confident that those projects that are currently locked or on hold will be released and will flourish. We have vast potential when it comes to the renewables sector and if we can control costs and not sacrifice quality, we have a real chance to create a thriving regional economy.
Kevan Carrick is a Chartered Surveyor, accredited mediator, and co-founder of JK Property Consultants LLP
jkpropertyconsultants.com
