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Pre-let and construction of a new 5,000 sqft office space

Project summary

  • Initial advice to client on the viability of the project in the context of his existing commercial portfolio
  • Key aims were to achieve premium letting terms to a suitable and reliable long-term tenant, who would embrace the rural location of Holly House
  • The project phases included achieving a satisfactory planning consent, finding a tenant and agreeing terms for both an agreement for lease and the lease itself, building in minor amendments to the plan, and starting the building programme (ongoing). Tenancy start date scheduled for February 2019, following completion

Solution

  • Once planning had been achieved, agree appropriate advertising programme with client and exploit local contacts
  • Swift negotiation of heads of terms with the selected tenant for onward transmission to solicitor
  • Monitor progress of legal agreements through to completion. Seeking appropriate solutions where required
  • Liaise with Building Consultancy team during the build process to ensure that the needs of both the landlord and tenant were adequately met, and the project timetable was kept up to date
  • Monitor bill process to completion and handover of £600,000 project

Benefits

  • Achieve adaptable commercial planning consent for previous Greenfield site
  • Arrange effective marketing campaign to raise the profile of both the Business Park and the Client
  • Secure strong local tenant with good track record and thriving international business
  • Increase estate rent roll by over 50%
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