- Citivale, along with existing capital partner, acquired this multi-let industrial estate extending to 138,031 sq ft
- Since acquisition, the estate has undergone proactive asset management initiatives, leading to a c.40% increase in rental income to £554,000 – £770,000 per annum
- Asset Management Initiatives
-Strategic property enhancements – Constructed a concrete yard for open storage, which has since been successfully let
-Secured three 20-year lease regears, which allowed for the installation of solar panels across approximately 60% of the roof space
-A further regear on a 10 year term
-Tenant repositioning – Executed a concurrent surrender and new lease on a unit, securing a new occupier on a 10-year term
- The asset management team are consistently assessing renewal opportunities, identifying potential new lettings and exploring additional ways to further opportunistic value creation, with the view of enhancing the estate’s long-term income potential.