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Did you know?

Our valuers often recognise opportunities to add value to a property either in the purchasing, ownership or selling stages.

 

Property Investment

We were contacted by a client who owned an old vacant commercial building on a well located site. He had been approached by an agent who had a tenant prospect, with the landlord also being aware of a second tenant.

Once the needs of those two prospects were determined, it transpired that the property could accommodate a third tenant which was sourced by us via another agent.

A line drawing was then prepared by us of approximate dimensions for the building (the parameters of which were partly set by the confines of the site and the needs of the tenants) and made available to several developers / construction companies.

The existing building was demolished, the new building was completed and leases put in place by us in conjunction with the client's lawyer.

Allowing for the initial value in the land, the total development cost resulted in a return of 22%. Interestingly, the rentals all increased at the first rent review. Our role was to advise the client, manage the project and liaise with agents, contractors/developers and the client's lawyer.

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