Pearson Plc owned a 90,000 sq ft training centre on 11 acres which had become surplus to requirements. We were instructed to sell for best price.
We advised our client that letting the space then selling would maximise returns. We duly marketed the building and secured 5 tenants who collectively paid c.£400,000 in rent. With strong demand for multi-let commercial investments we identified the likely investors before selling to a local authority who subsequently retained us to let additional vacant business space.
Generated significant rental income for client and more than doubled the ‘book value’ of the building by selling it as an income producing investment rather than selling as a vacant building.