Nelson House, Solihull
Acting on behalf of a private client, Cyril Leonard
were appointed to advise on the acquisition, asset management, and then the subsequent disposal of this prime purpose built office
located on Blythe Valley Business Park.
The property was purpose built in 2008 totalling 14,792
sq ft and acts as the UK Headquarters for Goodman Logistics and is let to them
by way of a 15 year lease from 2008.
Cyril Leonard advised the client on the acquisition
and technical due diligence at purchase of the asset in October 2009 for a
price of £3.96 million reflecting a net initial yield of 7.75%.
Cyril Leonard asset managed the property through
the hold period including rent, estate service charge and insurance collection
as well as advisory services as to the rent review and partial sub-letting by
Cyril Leonard were appointed to dispose of the
property at the end of the client’s hold period and following a wide marketing
campaign the quoting price was exceeded by around £250,000 providing the client
with a profit on the original purchase price.
By advising the client throughout the whole process
from purchase through to disposal Cyril Leonard managed to provide the client
with consistent advice and as such securing a profit on the investment.