The Brief
Client and location: Bar Lane Industrial Park, Nottingham.
Sector: Industrial.
Services provided: Building Consultancy, Property & Asset Management, Agency & Development: Condition Survey, Property Management and Land Sale, Development Consultancy
Challenge: The historic industrial park, featuring a 113,000 sq ft scheme on 8 acres with over 20 tenants, required strategic management and advice to maximise its potential. The vendor sought direction on the best route forward, considering options like residential redevelopment or selling the existing investment.
Client Testimonial
“We are really pleased to have secured the site at Bar Lane Industrial Park. As well offering large industrial space, it is in close proximity to the city centre, and will certainly appeal to a number of businesses looking for somewhere new or to expand. We are excited to provide local businesses with an excellent central hub to grow from and offer the space they need to help their business be a success.”
Dritan Skenderaj, Director at Meadow Lane Services
The Solution
An integrated approach by Innes England:
Collaborative departmental effort: Innes England’s Building Consultancy, Agency and Development, and Property & Asset Management teams worked together to offer a comprehensive solution.
Development consultancy: Initial advice on the site’s potential through development services, exploring options for its future.
Condition survey: Conducted a detailed condition report to assess repair needs and plan appropriate actions.
Property & asset management: Improved site management to enhance its market appeal and operational efficiency.
Agency and sale strategy: Actively marketed the site to potential investors, culminating in a successful sale that exceeded expectations.
The Results
- Successful sale: Secured a multi-million-pound deal with Meadow Lane Services Ltd, surpassing vendor predictions and adding significant value to the estate.
- Investor satisfaction: Both the vendor and the new investor praised the strategic approach and professionalism of Innes England.
- Continued management: Innes England was retained by the new owner to manage the site and continue leasing activities.
- Local business hub: The industrial park is positioned as a central hub for local businesses, providing valuable industrial space close to the city centre.
Conclusion
Bar Lane Industrial Park demonstrates Innes England’s expertise in delivering multifaceted property solutions that maximise the potential of significant industrial estates. An integrated approach, combining building surveying, strategic property management, and effective agency services, not only facilitated a successful sale but also positioned the site as a key industrial hub for local businesses in Nottingham. This project highlights our ability to navigate complex property challenges and deliver results that exceed client expectations.
“We are delighted with this result. With our professional team at Innes England and Waymark we have worked hard to try and maximise the potential of this site and we are confident that Meadow Lane Services will make the most of that potential. Innes England and Waymark have provided considerable expertise in preparing the site for sale and managing a very well targeted marketing campaign. Their unrivalled local knowledge generated considerable interest and ultimately secured the sale. My client is very pleased and I would like to thank all involved at Innes England and Waymark for their professionalism and commitment throughout.”
Brett Artus, Asset Manager for the vendor