Challenge

A multi-disciplinary team from across Vail Williams was appointed to advise long-standing client and leading construction business, Geoffrey Osborne, in relation to the relocation of one of its subsidiaries, Innovaré Systems Limited.

Innovaré specialises in modular building design, development and construction. Faced with a lease that was due to expire and to allow the firm to continue to grow, they needed relocate to larger premises.

The impending lease expiry created tight timescales to source and secure a building for their specific needs, including layout, size and configuration of loading doors, and large yard for external storage.

How we helped

• Established building specification and future property strategy, whilst advising on exit from existing premises.
• Provided strategic and financial advice to mitigate dilapidations liabilities.
• Without a building on the market to their specification, deployed expert knowledge and contacts to unearth options.
• Extensive property search undertaken with expert advice on opportunities and challenges of each site.
• Shortlisted Imperial Park Coventry, with high-profile occupiers and specification, with BREEAM ‘Very Good’ rating and EPC rating of ‘A’.
• Undertook lease negotiations, securing 10-year lease, carrying out due diligence
  Navigated potential use class issue and addressed external storage problem with additional planning advice.
• Applied for B2 general industrial use and to obtain planning consent to store finished goods in the yard.
• Advised on structural changes required to the property, with insight into building layout, addition of wider doors and changes to onsite parking.
• Carried out pre-acquisition survey to ensure building constructed in line with plans and specification and was fit for purpose.
• Liaised with highways consultants, two local authorities and Highways Agency to complete deal on time.

Results

• Secured the right property for our client’s future needs.
• Enabled them to exit existing lease in the most cost-effective way.
• Assisted client in successfully applying for ERDF funding to develop their business.