Thinking Ahead of the Game Pays Dividends

Standard Life instructed Vail Williams to let a 47,850 sq ft detached industrial unit in the M27 corridor near Fareham. The building, constructed in the 1980s and refurbished in 2005, had restricted planning use and was held on a ground lease from Hampshire County Council. We recognised that, by applying to widen the planning use at an early stage, the property would be more attractive to potential tenants. It would also avoid frustrating delays as advanced stages of any potential deal.

Vail Williams’ Planning team successfully widened the planning use which led to interest from Cantono, who were introduced through our Business Space team. The planning team then negotiated with Hampshire County Council to remove some restrictive covenants in the head lease, enabling us to negotiate a new 25 year lease on the building to be used as a specialist data centre by Cantono. Finally, our Building Consultancy team were involved in monitoring a multi-million pound fit-out of the building, representing Standard Life’s interests.

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