BAR LANE INDUSTRIAL PARK
Bar Lane Industrial Park features a multi-tenanted 113,000 sq ft industrial scheme sited on 8 acres. The site was originally constructed in the 1900’s and the principal unit has been sub- divided into 25 units and encompassing over 20 tenants. The industrial park is situated within a 15-minute drive to the centre of Nottingham and has excellent transport links. The site is home to a number of local businesses who have been trading from the Industrial Park for a number of years. The vendor required advice on the best route forward to maximise the potential of the estate.
Our solution:
Innes England provided an all-inclusive service that comprised three of their key departments working collaboratively, Building Consultancy, Agency and Development as well as Property Asset Management.
Innes England had been advising on the site for months through their development services reviewing opportunities for the vendor on the best route forward, be that residential redevelopment or a sale of the existing investment.
The site required immediate attention in managing the site efficiently to an improved standard, thereby maximising market appeal. Innes England’s Property Asset Management team were delighted to support the operations of the estate, adding imminent value.
The site required a condition report which was conducted through Innes England’s Building Consultancy team providing anticipated repair works required and the best route of action moving forward.
As a result Innes England’s Agency and Development team proactively advised to sell the existing estate by approaching a number of active investors and were delighted to secure the sale surpassing the clients expectations, as well as supporting in letting the industrial units moving forward.
The results:
Innes England provided an integrated solution for Bar Lane Industrial Park to help maximise the value of the site.
Due to its popularity, the unique freehold opportunity eventually went to best bids and was secured by Meadow Lane Services Ltd, a well-established investor in the region.
Innes England secured a multi-million-pound deal which was more attractive than vendors predictions.
Innes England’s unrivalled local knowledge generated considerable interest and ultimately secured the sale.
Innes England has now been retained by the purchaser to act as agents on the site and continue to let vacant units.
Both the private vendor and investor were delighted with the professionalism, advice and commitment Innes England provided.
Quotes:
Dritan Skenderaj, Director at Meadow Lane Services, said:
“We are really pleased to have secured the site at Bar Lane Industrial Park. As well offering large industrial space, it is in close proximity to the city centre, and will certainly appeal to a number of businesses looking for somewhere new or to expand. We are excited to provide local businesses with an excellent central hub to grow from and offer the space they need to help their business be a success.”
Brett Artus, Asset Manager for the vendor, said:
“We are delighted with this result. With our professional team at Innes England and Waymark we have worked hard to try and maximise the potential of this site and we are confident that Meadow Lane Services will make the most of that potential.
Innes England and Waymark have provided considerable expertise in preparing the site for sale and managing a very well targeted marketing campaign.
Their unrivalled local knowledge generated considerable interest and ultimately secured the sale. My client is very pleased and I would like to thank all involved at Innes England and Waymark for their professionalism and commitment throughout.”
