Citivale Group Holdings Ltd Citivale Group Holdings Ltd
  • 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.

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