The Hallmark Group

Real Estate Group

The Hallmark Group

The Hallmark Group

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From Impending Vacancy to Enhanced Value

Capenhurst Technology Park

Capenhurst Technology Park

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Summary:

A primary tenant, though highly satisfied with Hallmark’s management, was reluctantly intending to relocate to larger premises. Hallmark’s team orchestrated the development of an additional wing to accommodate the tenant’s growing staff, while adding significant value to the property.

Background

Hallmark managed this multi-let technology park on behalf of clients. The second largest tenant had signalled its reluctant intention to relocate to accommodate its expansion needs. Given that the park was let to full capacity, the tenant was forced to explore other alternatives.

Seamless Solution

Hallmark’s management met the tenant’s directors and advised them to consider a proposal whereby Hallmark would construct an additional wing to the property according to the tenant’s specifications. The tenant enthusiastically agreed, preferring this solution to relocating to new premises and thus agreed terms. Hallmark then orchestrated the planning and project management for constructing the new wing.

As a result of Hallmark’s innovative solution, the tenant agreed to a new over-riding lease on the entire premises, including terms which generated an attractive yield on the capital expenditure for the new wing. By expanding the facilities and re-securing long term rental income, Hallmark flipped the property’s emerging vacancy into enhanced capital value.

Case in Point

Hallmark’s hands-on approach to asset management created a platform for out-of-the-box problem solving, turning what would have been a loss, into a gain for both client and tenant.

capenhurst-tech-google-earth
Map data: Google, DigitalGlobe

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The Hallmark Group

Contact

28 Leslie Hough Way

Salford M6 6AJ

United Kingdom

Tel: +44 161 696 7000

Fax: +44 161 696 7001

Email: info@thehallmarkgroup.com

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