Over recent months BB&J Commercial have been extremely active and successful with a run of transactions and instructions on the modern and popular industrial development, Sawley Park in Derby.
The success started in November 2019 when new lease terms were negotiated with Netherlands based Machine and Tool rental giant, Boels Rental, who have entered into a new 10-year lease to remain in their premises.
Boels Rental acquired the share capital of former tenants, Supply UK in the summer of 2017 as part of their planned growth strategy in a move which increased their presence to over 400 branches across 11 countries in Europe.
Graham Bancroft, Partner at BB&J Commercial said “We are delighted to agree terms with Boels Rental who have committed to Derby for the next 10 years. Furthermore, as part of the agreement we have broken new ground at Sawley Park by achieving rental levels of £8 per square foot which is significantly higher than the previous levels established as we continue to drive rental values”.
Then towards the end of 2019, Unit 24 Sawley Park was sold with vacant possession to Whitehouse Construction. Whilst the property wasn’t formally on the market for sale, Graham Bancroft was aware of the interest from Whitehouse and was able to put together a deal to suit both parties.
Robert Ewart-Sears of Whitehouse Construction said, “We were very happy to acquire Unit 24 Sawley Park, the property is situated close to one of our company buildings and also sits well within our investment portfolio.”
Graham Bancroft said “Whilst we were actually marketing Unit 24 to let only, I was aware of Whitehouse Construction’s interest in the property on a freehold basis and therefore brought it to the previous owner’s attention. After various discussions between the two parties I was able to agree terms that both parties were happy with and we were able to bring the matter to a very swift conclusion. We have since been able to agree heads of terms on a new letting of the property as well.”
“The deal demonstrates the importance of knowing both the local market and where demand lies for investments. Putting together these two parties in a deal that wasn’t actually being offered to begin with is a great example of BB&J’s ability to look beyond the obvious and work in a different way to achieve a result that benefitted all concerned.”
Should you have an existing property requirement or wish to the potential sale or disposal of your commercial property please do not hesitate to contact us on either commercial@bbandj.co.uk or 01332 292825 and an agent would be delighted to be of assistance.
