Challenge

Vail Williams was appointed by leading pump solutions and plant hire company, Selwood Limited, to acquire new premises for the business’ Dorset branch, near Bournemouth.

The client had outgrown its premises at Woolsbridge Industrial Estate and, whilst the property was no longer fit for purpose, was keen to remain on the Estate due to its strategic location close to the motorway and surrounding areas of Ringwood, Ferndown, Wimborne.

We needed to act quickly due to the client’s imminent lease expiry.

How we helped

• Identified potential existing property solutions to meet the brief.
• Carried out extensive local industrial market research.
• Put forward three deliverable proposals.
• Most viable option was development-led, therefore we sought competitive proposals from developers for a new build unit.
• Selwood decided to stay at the same location, so we entered negotiations with their landlord, Ankers & Rawlings Developments Limited.
• Agreed terms with the landlord for a new warehouse on a secure 1-acre site, with high grade purpose-built 8m eaves and an additional yard.

Results

• Negotiated a new 15-year lease with 10-year break clause on competitive terms.
• Linked the new lease with the exit of their existing premises, ensuring the client could retain low passing rent until the new unit was built and dilapidations liabilities were waived.
• We were subsequently appointed to project monitor the construction of the facility through to completion.
• Project managed the construction and associated issues including collateral warranties, landlord and tenant specification and the provision of rooftop solar panels.