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Acting for the client, the team of commercial property acquisition experts ensured that income voids have been minimised, and where possible, rental growth achieved.

This was achieved by working closely with the client to implement an active and high profile marketing campaign for the estate.

Challenges

Using our knowledge and understanding of existing occupiers within the scheme, the commercial property acquisitions and disposal team completed a number of successful lettings, bringing both new occupiers to the estate and assisting existing occupiers to grow.

Examples include:

  • DHL
New Letting 30,600 sq ft

Following the comprehensive refurbishment of a unit with a large yard, an active marketing campaign was carried out to secure a letting to DHL International UK Ltd on a new 10 year lease with 5 year break.

  • Travis Perkins

New Letting 17,500 sq ft
After the relocation of an existing tenant, the surplus lease was surrendered with a simultaneous new letting to the Travis Perkins group. The letting is now agreed and the unit is open and trading on a new 15 year lease with a 10 year break.

  • Weatherford Laboratories
Expansion Letting 15,000 sq ft
An existing occupier within The Birches, Weatherford has been expanding. By engaging with the occupier early on, it was possible to provide a refurbished unit to help this global leader in laboratory services to remain within the scheme for the longer term, on a new 10 year lease.
  • Precision Technology Supplies (PTS)

Purchase (10,300 sq ft) and a New Letting (28,000 sq ft)
PTS is a rapidly expanding company which needed larger accommodation to expand from existing Freehold owned on The Birches estate.

BP Pension Fund purchased the 10,500 sq ft unit from PTS and agreed a simultaneous surrender of a lease on a larger unit and a new letting to PTS. This has allowed PTS to expand and retain all existing staff without having to relocate out of the area.

An additional letting as also since been agreed of the former PTS unit to a national trade counter user.

Expertise

  • Commercial property acquisition advice
  • Commercial lease advice
  • Commercial lease renewals advice
  • Commercial rent review advice

Result

By working closely with the client BP Pension Fund asset manager, Vail Williams has agreed and implemented an active, high profile marketing campaign which has helped secure a number of new lettings spanning over 100,000 sq. ft.This has considerably reduced rental voids for the client.

What is more, by getting to know and understand the needs of the existing occupiers, it was possible to unlock a number of expansion possibilities which have added considerable value.

For further information please contact our team.

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