More Regeneration

Following on from the success at Congleton noted elsewhere, we soon acquired a second Regeneration project; this time, a large single building of some 80,000 sq ft on a 2.5 acre site in Kirkby-in-Ashfield. This redundant property had become derelict and in need of considerable further investment.
Having the cash funds available, we carried out due diligence, but realised that the residual value of the space was dependent on a significant remodelling for a speculative scheme. A large part of the building would have to be demolished to enable a logical break up to meet a market for owner-occupiers.

Our activity to smarten up and re-fence the site drew interest from a neighbour, Charles Yorke the luxury kitchens division of The Symphony Group plc- the Uks largest privately owned kitchen company.

A detailed presentation was made to the major shareholder showing how the building could be reconfigured to accommodate their major expansion. As a result the building was sold to Symphony as part of their business expansion plan. Regeneration Group were retained to advise on the re-invigoration of the space.

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Work is in hand as at December 2013 to April 2014 with a view to fit-out and occupation thereafter, this bringing noticeable revitalisation of the locality. The visually improved frontage, chosen with the customer, is a particularly beneficial feature and all in all, a joint cooperative effort has resulted in a substantial and good industrial shell being recycled to meet the specific needs of an important local manufacturer.

Regeneration Group were also instrumental in putting in the final piece of the jigsaw by identifying an occupier for the Charles Yorke existing premises of 23,000 sq ft. The identified company is due to take occupation immediately on relocation of Charles Yorke thereby minimising any void period.

That takes the acquisition/refurbish-ment/sales/letting activity of the Regeneration Group to over 140,000 sq ft of industrial space over the past 18 months.


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