Lion Court, Bordon - Investment/development site acquisition
Curchod & Co acquired this 9 acre site with 26,000 sq.ft. of industrial/warehouse accommodation, laboratory and office space in Bordon, Hampshire. Read more about the process we undertook to secure the premises for our client and secure a pre-let before the sale completed.
Curchod & Co identified Lion Court, Bordon as an attractive investment and development opportunity. The site which comprises 26,000 sq.ft. of existing industrial/warehouse, laboratory and office accommodation together with 9 acres of grounds, parking etc had recently been vacated by Fresenius Cabi a German pharmaceutical company. The site was being quietly marketed for sale and Curchod & Co introduced the property to our long standing client, Lamron Estates Limited and T A Fisher.
Curchod & Co undertook a development appraisal which identified Lion Court as being an attractive potential investment with significant development potential. Following lengthy negotiations, a deal was struck to purchase the site at a discount to the market value.
As soon as solicitors were instructed Curchod & Co implemented a marketing campaign to secure new tenants for the three vacant buildings. This involved identifying businesses who we thought might be interested in renting some or all of the buildings. This marketing campaign identified Richers & Vision as a potential tenant and following negotiations terms were agreed for this party to lease the full 26,000 sq.ft. of vacant buildings.
Curchod & Co’s forensic knowledge of the local market enabled the client to include a pre-let on 26,000 sq.ft. of labs, industrial and offices prior to completion of the site purchase. They are now working with the freeholder to obtain further planning consent for business units within the grounds and a planning application will be submitted very shortly.
Curchod & Co successfully secured this 7 acre, 26,000 sq.ft. industrial/warehouse, laboratory and office site on the outskirts of Bordon, Hampshire. A new full repairing and insuring lease was signed with Richers & Vision for a term of 15 years which effectively derisked the purchase providing our client with an attractive yield from day one.
Hopefully planning consent will be obtained for further business units within the grounds which will generate further returns for our delighted client.
Need help finding the perfect commercial property? Get in touch today.