More Regeneration

Subsequent purchases followed on from the success at Congleton, we soon acquired a second Regeneration Group project; this time, a large single building of some 80,000 sq ft on a 2.5 acre site in Kirkby-in-Ashfield, Nottinghamshire. This redundant property had become derelict and in need of considerable further investment. Having the cash funds available, we carried out due diligence, but quickly 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 the 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, and the UK's largest privately-owned kitchen company. A detailed presentation was made to the major shareholder demonstrating how the building could be reconfigured to accommodate their significant 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 and substantial refurbishment of the space. 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 Charles Yorke's existing premises of 23,000 sqft. The occupier took possession immediately on relocation of Charles Yorke, thereby minimising any void period.

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