On behalf of Nottinghamshire County Council Pension Fund, we disposed of the 133,627 sq ft former NSK Building in Coventry to Melville Exhibition Services.
Aberdeen Asset Management, the Fund Managers for Nottinghamshire County Council Pension Fund, instructed us to market the bespoke manufacturing building at the expiry of the lease.
Void period minimised through swift disposal
We were instructed to dispose of the property as an investment opportunity and terms were agreed with F&C Reit providing the client with a successful exit from the property and an attractive net realisation.
Despite challenging market conditions and the bespoke nature of the building, the landlord’s void period was minimised by identifying the tenant and concluding the transaction within three months of the expiry of the previous lease.
Attractive investment opportunity secured for Melville Exhibition Services
Terms were agreed with Melville Exhibition Services for a 10 year lease within three months of the property becoming vacant. The terms secured with Melville Exhibition Services provided the client with an attractive investment property.
Maximising value through multi-disciplinary advice
Our building consultancy team negotiated the dilapidations settlement and agreement of tenant’s fitting out works with the outgoing tenant to ensure maximum benefit to the client.