Acting as Asset Manager for one of our long-standing Clients on a property in a well-established distribution location in the heart of the East Midlands.
The Tenant required some additional space and we were able to work with our client to deliver an extension of 31,000 sq ft to their existing 138,000 sq ft unit. Citivale also acted as Development Manager.
As part of this transaction an Agreement for Surrender and New Lease was entered into, improving the passing rent and the secured term of the Lease thus improving the investment value for our client.
Project works targeted environmental improvements where possible with the inclusion of a PV roof array for the Tenant’s benefit.
All works are being carried out whilst the Tenant remains in operation, and Practical Completion is due in June 2024.
