Rapid Return on Investment

Last month we reported that we had successfully sold Unit 8 Westside Park to Leicestershire based investors, Manston (Manston adds Derby warehouse to UK portfolio 19th July 2019). https://bit.ly/3xJYQgP

 

Following this acquisition, the purchasers retained our services to market the property on a leasehold basis and after a brief, but intense marketing period we are pleased to confirm that the property has now been let to SGS Engineering (UK) Ltd who have taken occupation by way of a new 5-year lease.

 

'Once we were appointed to market the leasehold interest, we quickly set about generating quality enquiries which resulted in strong interest from four potential tenants. SGS obviously have a heavy presence at this location and therefore, represented the most attractive proposition for our client so terms were quickly agreed.

 

It's a real positive outcome given that the property had only just been speculatively acquired with a view to generating a return and therefore to conclude the transaction in under a month is a testament to demand from tenants/owner occupiers seeking good quality industrial space. This summer we have already traded 70,000sq.ft of industrial space with a further 155,000sq.ft in the pipeline which is either under offer or due for completion shortly.

 

A special word must also go to the legal counsels; Elvin Moore Solicitors (Rachel Briggs and Alison James-Moore) who represented our client and Underwood Vinecombe( Mark Vinecombe) on behalf of the tenant both of whom acted in a highly professional and skilled manner to expedite the transaction in such a short space of time.' Commented Chris Keogh, Associate Director, Salloway

 

Should you have an existing requirement or are looking to let or sell your property please do not hesitate to contact a member of our team and we would be happy to provide our services. derby@salloway.com 01332 298000

 

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