Having originally negotiated an off-market disposal of the estate on behalf of its previous owner, Mounsey Surveyors were subsequently retained by the new purchaser to provide property and asset management advice across Stone Road Business Park in Hanford.
This part income producing investment previously formed part of the Michelin PLC site and at the time of purchase, comprised three industrial units and a detached office building amounting to approximately 65,000 sq ft. Since our instruction in August 2013, we have enabled our client to increase the value of their investment through intensive property management and a forward thinking approach in order to protect their income profile.
The estate has now developed into a desirable business location with the sub-division and refurbishment of a vacant building ensuring the estate is now fully occupied and in-keeping with the requirements of the wider market. Occupiers currently include JG Fenn, Copper & Optic, St Joseph’s College, Compotool and Michelin.
We have provided a fully inclusive management service to our client and are responsible for all property matters across the estate. This has briefly comprised the following:
- A full review of all existing leases to understand the obligations of the Landlord
- Collection of all rental and service charge monies on a quarterly basis
- Managing the maintenance of the common parts of the estate to improve its appearance and achieve better value for money
- Advising on the terms of two lettings to good quality industrial tenants
- Re-gearing the lease of an existing tenant at an increased Market Rent
- Overseeing the dilapidations process upon the expiry of leases
- Managing additional off-site commercial property within our client’s portfolio