Freehold multi-let high tech business park, Havant, Hampshire
Full-service property advice from development to disposal
Let to five tenants associated with technology, innovation and R&D generating £450,000 pa total rental income
Light Industrial Property Case Study - Nest Investments Property Limited
60,107
sq. ft.
of light industrial buildings on 5.14-acre site
£6.3
million
disposal value secured
£100
per sq. ft.
capital value - realising a net initial yield of 7%
Challenge
Vail Williams worked with Nest Investments Property Limited for over 25 years, providing end-to-end property advice in relation to their investment at Nest Business Park in Havant, Hampshire.
Having acquired the site in 1995, a Nest subsidiary initially occupied part of the site, meanwhile the rest had become obsolete.
When Nest’s subsidiary relocated, we were appointed to provide redevelopment advice resulting in the creation of the 60,000 sq ft Nest Business Park.
How we helped
- Based in Cyprus, Nest was new to the UK property market and relied on our knowledge of the south coast market to inform what to build
- Our development team worked closely with the architect to shape the redevelopment of the site
- Upon completion, our industrial agents undertook all the initial lettings, securing landmark tenants such as IBM
- Over subsequent years, we provided full-service property advice to Nest covering all aspects of the site – from rent reviews, lease renewals and new lettings, to dilapidations, business rates and service charge management
- In 2020, the client decided to dispose of the investment
- Working with our client, we managed the disposal process, marketing the investment to potential buyers
- Despite the challenges of the pandemic, we ensured presentations to three interested parties were conducted successfully.
Vail Williams provided us with property advice throughout the lifecycle of our business park investment in Havant, working with us from conception, design and development, throughout lettings, maintenance, rent collections, service charges and valuations, to the eventual freehold sale of the asset. We are incredibly grateful for their support throughout this time, which delivered a good return on investment, particularly against the backdrop of a global pandemic.
Sotiris Nicolaides, Senior Assistant Group Finance Director, Nest Investments Property Limited.
Results
- Successful management of the business park over more than 20 years ensured the best possible return on investment for our client at disposal
- Achieved interest from the parties, securing the eventual sale to private equity real estate investor Paloma Capital
- Achieved sale price of £6.3 million
- Realised a net initial yield of 7%, a capital value of £100 per sq ft.
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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