Sale of Major Distribution Centre

This property owning business was going through a re-organisation. Part of their portfolio included a 255,000 sq ft distribution centre which had particular market sensitivities due, in part, to the specialist nature of the building and the limited term remaining on the lease. Upon appointment as Fixed Charge Receivers we undertook a review of the asset and market interest, in parallel with consideration of a lease re-gear. We subsequently remarketed the site on an international basis and generated an additional £1m above the previous best offer and completing the sale within a restricted time frame.