“Pearson Plc owned a 90,000 sq ft training centre on 11 acres which had become surplus to requirements. We were instructed to sell for best price.”
Instructed to coordinate sale of 88,000 sq ft mixed use facility in Corby.
First secured multiple tenants to maximise income potential ahead of bringing the freehold to market.
Sold resulting investment for £4m, 2x the book value Pearson’s held it at.
IMPORTANT NOTICE: These particulars are prepared for the guidance only of prospective purchasers and are intended to give a fair overall description of the property. They are not intended to constitute part of an offer or contract and no guarantee, warrantee or representation is given in respect of them. Any information given is provided in good faith and should not be relied upon as being a statement or representation of fact. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. September 2017
Our Actions
We advised our client that letting the space then selling would maximise returns. We duly marketed the building and secured 5 tenants who collectively paid c.£400,000 in rent. With strong demand for multi-let commercial investments we identified the likely investors before selling to a local authority who subsequently retained us to let additional vacant business space.
The Result
Generated significant rental income for client and more than doubled the ‘book value’ of the building by selling it as an income producing investment rather than selling as a vacant building.
Key Facts:
80,000 sq.ft facility in Corby
Underused and not maximising returns for the owner
Instructed to “fill & sell”