Client: Ogden Group of Companies
21,373 sq ft Warehouse
When their tenant exercised a break clause Ogden Group asked Gent Visick for their advice as to the re-lettability of their 21,373 sq ft warehouse unit located off the M606 motorway to the south of Bradford.
We recommended that our Building Surveying team be appointed to negotiate the dilapidation claim and subsequently the majority of the works identified upon the Schedule of Condition were undertaken by the tenant. This left the unit in an excellent state of repair and condition for us to market.
The property attracted a lot of attention and was re-let to Sigma Technologies, part of the Altec Group, by way of new 15 year FRI lease. The headline rent of £ 5.75 per sq ft per annum exclusive was a new record rent for this size of unit in this location.
WHAT OUR CLIENTS SAY
“The advice we received from Gent Visick was spot on and we were especially pleased that this letting sets a new rental level for the estate and, through monitoring the tenant’s dilapidation works, the new lease has been drawn on a full repairing basis without reference to a Schedule of Condition. This has significantly increased the value of our interest in the Estate.”
Justin Garnett – Ogden Group