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To generate an improved return on the Council’s Treasury Funds through direct investment in commercial property.
To identify properties within an hour’s drive of the Council’s offices which matched their requirements in terms of lot size, return, tenant profile and risk. To support the Council in the negotiations over price and their lawyers throughout the due diligence.
We identified a mixed retail and leisure block within the prime section of Bitterne Road, Southampton. Having negotiated a reduction in sale price to provide the client with an acceptable level of return, we then supported them and their appointed lawyers in their property due diligence including building survey.
Detailed knowledge of the location, retail and budget gym sectors enabled us to advise risks and opportunities around rental growth and re-letting. The teamwork between our Investment and Building Consultancy specialists ensured we were able to reassure the client over the previous extension and enable them to exchange contracts within a tight timeline.
Realest – Stuart Cook (Investment Advice) and Robert Haynes (Acquisition Survey)
Test Valley Borough Council – Simon Ellis – Head of Estates and Economic Development
Test Valley Borough Council
Investment Acquisition, Building Due Diligence
Agency, Building Consultancy
Public Sector
Both Stuart and Rob were first class in finding and assisting the Council in moving this transaction forward. With their help and assistance we were able to secure a good investment for the Council.
Property Marketing Specialists