Our work - 23/06/2010

Improving Investment Performance of 1980’s Office Building

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Representing KeyLand Developments, we were instructed to dispose of No. 2 The Embankment, a 30,000 sq ft dated office building, within Leeds City Centre.

We advised on the benefits of refurbishing and updating the building and how this would improve the appeal of the building within the market.

Building Refurbishment Strategic Review

Our Office Agency and Building Consultancy teams provided a strategic review of the building at No.2 The Embankment, exploring the options for a comprehensive refurbishment of the buildings common areas and office accommodation.

We produced a detailed report outlining the proposed specification of works together with a matrix’s showing what impact the improvements would have on the letting prospects.

Developing concept with design team

Following agreement on our recommendations, we worked with a design team to develop a concept to overhaul the buildings’ reception and common areas to provide a modern, light, spacious and appealing welcoming to the building.

We tendered the works and identified a contractor who was able to complete the works to the required standard and within budget.

Successful marketing campaign

Alongside the refurbishment of the building, we developed a comprehensive marketing campaign, which we used to target a number of occupiers who had lease events coming up, to make them aware of the buildings’ availability. We also ensured that clients with existing requirements were made aware of the building.

83% letting success following refurbishment

Adam Varley, Head of office Agency in our Leeds office, said: “Following the refurbishment works, we have let 83% of the building on competitive lease terms, enhancing the building’s asset value and greatly reducing the client’s vacant property holding costs.”

Adam concluded:”In addition, the building improvements have helped retain existing occupiers who previously considered relocating into more modern, efficient office accommodation.”


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