Case studies
We’re used to dealing with all types of commercial property. These case studies give an insight into how we work for our commercial customers, whatever the sector.
Gate Studios (office) – freehold owned by a charity, in a designated development area
Garratt Lane (industrial) – vehicle repair workshop and yard. A new look at usage paid off
Balham High Road (retail) – multi level restaurant: advising on options for covenant strength and use type
Gate Studios (office space)
Selling Gate Studios in Putney on behalf of a charity, the Church of England, meant that to comply with the Charities Act the client had to show that we had carried out a full marketing campaign and achieved a full market value for its property.
Key points
- Selling on behalf of a charity
- Remarketed successfully at original price after buyer fell through
- Provided marketing report to the Charity Commission
The property
- Detached two storey Victorian studio/office building
- Site area 811 sqm (8,730 sqft)
- Built area 496.5 sqm (5,344 sqft)
The marketing campaign
After an initial site inspection and meetings with church committees, we decided on a price and a marketing approach, and advertised the property. There was strong interest, and we invited bids from buyers. Unfortunately neither the highest nor second highest bidder was able to complete the purchase, and the sale fell through.
The result
Keen to sell, our client was prepared to accept a lower price, but we began a second marketing campaign and successfully sold Gate Studios at the original asking price. We prepared a full report for the Charity Commission, demonstrating that a full market value had been achieved.
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Garratt Lane (industrial space)
Our client had been trying unsuccessfully to let this industrial space for nearly two years when we became involved. By taking a creative approach that included sale and owner occupation, we successfully completed the sale.
Key points
- Letting had proved unsuccessful
- Explored new approaches to the site
- Creative solution resulted in successful sale
The property
- Vehicle repair workshop and yard
- Suitable for B1 industrial use
- Gross internal area: 992.45 sqm (10,683 sqft)
- Site area: 1,244.86 sqm (13,400 sqft)
The marketing campaign
The owners wanted to let the premises, but we advised a dual marketing campaign for letting and sale. However, we were initially asked to approach the marketing on a letting basis only. This met with a poor response.
We then looked at sale options, but also considered the possibility of achieving a higher figure by selling the property as a development site. We researched the planning and spoke to developers and soon realised that this would not achieve the price we were hoping for.
The result
Finally, we carried out a marketing campaign targeting owner occupiers, resulting in a successful sale to a timber merchant
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Balham High Road (retail space)
When we were asked to let this split level restaurant by our client, we first had several meetings to advise them on how to attract the widest range of tenants looking for a commercial property for rent. This covered the use of space, what works were needed and which tenants we should target.
Key points
- Advised on options for covenant strength and use type
- Helped client to shortlist and choose best tenants
The property
- Retail space with basement
- Suitable for A1/A2/A3/A4 use
- Set internal area: 291.20 sqm (3,134 sqft)
The marketing campaign
With a split level ground floor and a basement, this retail space was flexible enough to support several types of potential tenant. We had several meetings with the client before marketing began, working out what work needed doing and what type of business we should target.
We then began a full marketing campaign, which attracted a shortlist of three quality occupiers. We then had a meeting with our client and compared the offers, looking at type of use, covenant strength and investment value.
The result
After consultation with us the owner decided to let to a bar operator, who has now fitted out the premises and is trading successfully.
To find out how we can help you, or to arrange a valuation, contact our Commercial team
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