A prime multi-let industrial estate located in the heart of Trafford Park which was acquired by Canmoor/Harbert in summer 2013 as part of the Merlin Portfolio. The deal comprised seven multi-let industrial estates representing the largest single ownership in Trafford Park.
B8 Real Estate advised on the acquisition from the vendor, Segro.
Longwood Park had undergone a partial refurbishment; however, there were a significant number of void units.
Working in conjunction with Canmoor, B8 Real Estate advised on asset management initiatives involving the demolition of redundant buildings to create additional car parking along with additional on-site security measures and the phased refurbishment of the remaining units.
These initiatives resulted in significant take-up, rental growth and longer lease commitments from new tenants including a 15 year straight lease to Yesss Electrical and 10 year lease to David Phillips Furniture.
This instruction gave us an opportunity to work closely with the asset managers implementing a variety of initiatives resulting in a significant uplift in value over an 18 month period.