Challenge
Vail Williams was appointed by Breeze Volkswagen Commercial Vehicles to search for and acquire a new after sales facility within a 10-mile radius of Portsmouth.
Our brief was to find an industrial unit or development site spanning approximately 15,000 sq ft on two acres of land, with low site cover.
How we helped
- Embarked on a confidential property search with known commercial agents and property owners, deploying extensive knowledge of the Portsmouth industrial market.
- Provided client with a detailed report mapping out the options available to them.
- Client shortlisted several options and we arranged and attended inspections of the buildings.
- A lack of appropriate supply led us to recommend construction of a new build.
- Dunbury Park, Havant, was shortlisted – owned by Portsmouth City Council.
- The impact of a new-build on the timescales to move, represented a challenge for our client, whose existing lease was due to expire.
- Whilst negotiations with Portsmouth City Council were ongoing, we advised on a short term lease renewal with their existing landlord.
- Secured a tenant-only option to break at the first year, giving our client more time to secure the right property for their strategic needs.
The team at Vail Williams took time to fully understand our current situation and future requirements at the start of the process, which helped them to anticipate any challenges to our brief, such as our forthcoming lease expiry. This allowed them to act quickly to ensure a successful outcome, delivering us with a high-quality property solution in the right location which is fit for our business needs – both now and in the future.
Noel Ryan, Financial Controller, Breeze Group.
Results
- Expedited the deal with Portsmouth City Council to ensure our client could give notice to break their existing lease.
- Having negotiated with Portsmouth City Council, we agreed terms at Dunbury Park, Havant, subject to planning consent.
- Saved over £180,000 over the 5-year lease and a further £90,000 in rent incentive negotiations on the new lease.
- Negotiated the lease terms and base specification of the build, collateral warranties and timescales for delivery.
- Exchanged contracts quickly and our client relocated to their newly-built premises within just 9 months.
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.
Portsmouth
