News

Office Acquisition for Owner Occupier – June 2007

1980 Office Building 617m² (6,640 sq ft)

Our clients a recruitment company had grown out of their existing space and asked us to advise them on moving to larger offices.

We suggested that they consider the freehold purchase of an office building where part of the property was already let. We negotiated purchase, assisted them with obtaining bank finance and they moved into the ground floor of the building themselves.

We took over the management of the building and after one year negotiated a rental increase on part of the first floor accommodation, which cemented the rental tone for the building.

Three years later the client required capital for further expansion of the business. We were therefore instructed to sell the building subject to a lease back to our clients. We were able to secure a 50% appreciation in capital value over a three year period.

Contact David Johnson