Project summary
- Sale of an industrial open storage investment in Horsham, let with two years to expiry at a highly reversionary rent, to a specialist Volvo construction vehicle maintenance and repair business.
- Previous involvement through regearing the lease in 2022, analysing the rent by looking at excess yard on the site as well as a rent on the unit.
- Initial advice as to sales strategy and timing, considering a lease regear and sale or an exit following a break option.
Solution
- Fisher German carried out a comprehensive marketing campaign, targeting specialist industrial open storage buyers as well as a range of property companies, local private investors and family offices.
- Following this, we managed a bidding process to achieve best pricing for our client.
Benefits
- Having received competitive bids, it became clear that new entrants to the industrial open storage market would drive pricing.
- Fisher German drove pricing upwards and achieved a strong price with the purchasing party understanding and buying into the reversion of the excess yard rent and continued growth.
