Neil Mason Associates completes major back to back pre-let and pre-sale transaction.
Posted on 03 June 2015.
Construction work has recommenced on the Broadley Properties Ltd development at Gladstone Road, Northampton following a major back to back Pre-Let and Pre-Sale transaction arranged by the specialist commercial property consultants, Neil Mason Associates.
The total development, comprising approximately 22,000 sq ft of high quality warehouse and office space, has been Pre-Let to Tennant UK Cleaning Solutions Ltd on a new 10 year term.Tennant was already in occupation of Unit 1 and has taken a restructured lease on the combined Units 1 and 2 to meet its rapid business expansion in the UK.
The freehold investment has been Pre-Sold to a London-based private investment company in a transaction value approaching £2.5m.
Neil Mason Associates acted for Broadley Properties Ltd in both the letting and investment sale negotiations. Steve Smith, a consultant with Neil Mason Associates, commented, “These complex negotiations have resulted in record rental levels for quality warehousing in this location and an investment sale which underlines a significant improvement in market conditions and the appeal of Northampton as a strategic business location.”
Completion of the construction works is scheduled for mid-August 2015.
Neil Mason Associates also seeks commercial investment opportunities to include industrial, office and retail property, throughout Northamptonshire and the surrounding counties on behalf of retained clients.
One client in particular has an immediate cash facility for the purchase of suitable industrial/warehouse property within a price range of £250,000-£1,000,000.
For further details contact Steve Smith or Neil Mason at Neil Mason Associates on 01604 799010.