Gracelands Properties Limited
Seven business units with designated parking.
Our industrial agency team was instructed to sell a 22,500 ft.² industrial building in Cheshunt. Our agency team marketed the property and secured an excellent price having gone to best bids. The successful purchaser was a property maintenance company who wanted to find a new head office.
The property was bigger than was needed and thus our agency team suggested that the unit was subdivided into seven units. The largest unit fronting onto the road would become the new owner's head office. The remaining was divided into six smaller units.
The potential rental of the factory as a whole was in the order of £160,000 per annum. This increased to about £270,000 per annum when split into seven units.
Our management department assisted in generating over £100,000 of additional revenue and our agency teams were able to let all of the units within six weeks of the conversion completing. The client was happy in their new head office and was delighted with the additional rental that we created almost from day one.