Acting on behalf of Sunbelt Rentals Ltd, Mounsey Chartered Surveyors has successfully completed a lease assignment of a leasehold interest for a well located industrial property no longer required by the business. The property, comprising 6,826 sq. ft of industrial space on a generous one-acre site, has been let with over 9 years unexpired within the term.
Recognising the asset as surplus to operational requirements, the previous tenant, Sunbelt Rentals Ltd, instructed Mounsey Chartered Surveyors to market the site. Following strong occupier demand, Becky Thomas of the agency team swiftly secured Brown Recycling Ltd as the new tenant, enabling an efficient and strategic exit for Sunbelt Rentals.
This transaction is a reminder to tenants that even when a lease is signed and locked into, either long-term or short, there are viable routes such as assignment or subletting for disposing of commercial property and realigning property portfolios.
Following this success, Mounsey Chartered Surveyors has now been instructed to oversee the disposal of two additional sites leased by Protyre Motorsport. Situated in Fenton, the two properties comprise of approximately 26,000 sq. ft in total and feature generously sized yards – well-suited for businesses needing external storage or vehicle parking. These disposals will support the company’s consolidation into larger premises elsewhere in the city.
Becky Thomas commented, “Tenants assessing their property portfolios should bear in mind that valuable opportunities may be found within existing lease rights, not just at lease expiry. Strategies such as assignments, subletting or negotiating early surrender, can all play a role. Effective asset management, combined with expert guidance on disposals, is essential for maximising the value of leased space.”
To learn more about the Protyre Motorsport disposals or to explore how the team at Mounsey Chartered Surveyors can support you with industrial or commercial property in Stoke-on-Trent, please get in touch on 01782 202294.