Client: Legal & General / Industrial Property Investment Fund (IPIF)
Type: Modern Multi-let Industrial / Business Park
Size: 30 units from 2,000 sq. ft. – 30,000 sq. ft.
B8 Real Estate were instructed to join the agency on this estate back in July 2016 when IPIF acquired a further 59,769 sq. ft. to expand their ownership on the estate. Alongside our joint agents – Matthews & Goodman, B8 Real Estate had the opportunity to let a further 7 void units totalling 28,882 sq. ft.
Within 12 months and after implementing a new marketing strategy, 4 of the units were let reducing the void by 16,432 sq. ft. Following an extensive refurbishment to the industrial units – B1, B2 and B3, we are now looking to continue the success and exceed the new headline rental of £6.00 per sq. ft. achieved in March 2018.
This is an example of B8 Real Estate’s ability to get deals done even on challenging industrial estates where there are a number of vacant units with long void periods.