Industrial acquisition
Ongoing property management
Appointed managing agents
Property Management Case Study - Hargreaves Group - Poole Trade Park
36,175
sq ft
industrial estate
10
modern trade counter units
£7.7
million freehold acquisition
100
%
let
Challenge
Vail Williams was appointed by long-standing client, Hargreaves Group, to support the property company with its ongoing investment growth strategy.
Hargreaves sought to broaden the geographical reach of its investments, by expanding its property holdings in the Dorset industrial market.
Understanding key industrial ownership across the multi-let assets in Dorset region, we supported Hargreaves in achieving their aim, as well as assisting them with the ongoing management and enhancement of the asset.
How we helped
- Investment and agency experts researched and inspected key industrial estates in Dorset which would meet our client’s requirements
- Shortlisted Poole Trade Park, a multi-let industrial estate comprising of 10 modern trade counter units, which was fully let
- Approached the vendor regarding the likelihood that the asset would come to market
- Sometime later this came to pass, and we advised Hargreaves on the acquisition, at an opportunistic time in the market
- Advised on the freehold commercial property transaction, one of the biggest by value in the region for several years.
- Negotiated the asking price, securing acquisition for £7.7m
- Subsequently appointed to property manage the estate including management of communal parts of estate, service charge management and budgets
- Immediately achieved several short-term goals to enhance the asset, including works to make it visible again from the main road and improve signage
- We continue to explore long term rental growth opportunities across the trade park, from improvements to EPC ratings to its wider environs
- As and when units become vacant, there is the potential for agency instructions to help our client retain 100% occupancy.
“The acquisition of Poole Trade Park is an example of delivering on our ongoing growth strategy with a focus on the South-East.”
Alastair Skinner, Managing Director, Hargreaves Group.
Results
- As a result of our industrial market knowledge in the Dorset region, we secured the acquisition of a valuable industrial estate for our client, boasting significant income potential
- Allowed them to continue their investment growth trail in line with the firm’s ongoing strategy
- We were appointed as managing agents and have been retained to proactively manage the estate.
“We continue to look for similar opportunities where occupational market dynamics remain tight and we can deliver performance through asset management, refurbishment or development as we look to bolster our portfolio with further industrial, office and retail warehouse assets across the South-East.”
Alastair Skinner, Managing Director, Hargreaves Group.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
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