- Acquired as part of a portfolio in 2021 in the knowledge that the tenant was going to vacate at Lease end in December 2022.
- Negotiated settlement with the outgoing tenant to avoid protracted dilapidations discussions allowing the capital to be used for refurbishment.
- Prior to Lease end a full refurbishment scheme was specified and tendered to minimise any void.
- Refurbishment programme implemented, including a new roof, creating fit for purpose energy efficient industrial/warehouse space with an improved EPC.
- Proactive marketing secured a tenant early on in the process resulting in Lease completion immediately on practical completion of the refurbishment works.
- Final result is a greatly improved asset, EPC improved to a B, with a significantly improved ERV let in excess of the business plan.
