Unconditionally acquired in partnership with The Milton Investment Group, BHP were responsible for all asset management strategy, controlled supervision of the refurbishment and marketing aspects of the transaction.
The leases on the existing leases were reviewed along with a limited refurbishment of the vacant units.
The buoyant freehold market resulted in a rapid disposal of the vacant units and following this the investment properties were sold by private treaty.
- Unbroken terrace of industrial units
- Low passing rentals
- Good level of Freehold enquiries
- Increase passing rents through rent reviews
- Improve values through refurbishment of the vacant units
- Undertake FH sales of the vacant units
- Partially income producing
- CAPEX required on the vacant units prior to sale
- Repair obligation in respect of Canal wall to the rear of all properties not definitive
- Possible repair obligation in respect of the Canal wall which defined the edge of the registered Title
- Void risk on vacant property
- Scope creep during the refurbishment could lead to greater than envisaged refurbishment costs