Case Study: Albany Trading Estate, Chorlton

Bookmark and Share

Circumstances prior to our instruction.

  • Small Trading Estate 16 units let to Local Authority and sub-let
  • Lease to Local Authority was coming to an end
  • Premises were in very poor condition despite FRI lease
  • 9 units occupied, 7 units vacant
  • Passing rent
  • Sub rents below market rents

Our instructions from June 2009

  • Advise on dilapidations
  • Renew subleases on full market terms
  • Let the vacant units
  • Manage the estate.

Outputs

  • Dilapidations settled, six figure settlement.
  • Repairs implemented and estate upgraded
  • All sub-tenants transferred to modern FRI leases with service charge and on full market rents
  • All vacant units let despite difficult market
  • Rent roll increased by over 15%

 

Contact Us