Acting on behalf of one of our institutional pension fund clients, Hellier Langston were instructed to provide recommendations for the refurbishment and marketing of two detached warehouse/industrial units. The units became vacant at the end of their existing leases, and our client needed to let the buildings quickly to ensure they became income producing.

With offices at either end of the M27 corridor in Southampton and Fareham, Hellier Langston are ideally placed to advise on leasehold and freehold disposals along this key route, providing comprehensive 100% market coverage.

The Requirement

The requirement was to advise on how to refurbish a warehouse / industrial unit built in the 1990s to the highest standards required by modern ESG conscious occupiers, making them ‘best in class’ and able to compete comfortably against new build developments, achieving comparable or even better rents.

From our initial inspection with our joint agents, we were able to identify a number of areas that could be improved including:

• Energy performance
• User/tenant experience
• Modernisation
• Power upgrades

The challenge was to maximise the property’s return while keeping the void period to a minimum.

The Solution

Hellier Langston inspected and measured the property and produced a detailed Strategic Marketing Report in collaboration with joint agents, which included:

Detailed Description	Local and National Market Intelligence
Current specification	Achievable Lease Length
Proposed refurbishment	Achievable Rent
Proposed improvements	Market incentives
ESG/EPC improvement	Property Marketing advice

During the refurbishment period, Hellier Langston conducted viewings and inspections, proactively identifying potential tenants prior to completion of works.

The Outcome

Two new tenants were secured, and terms were successfully negotiated with our client and solicitors instructed.

Matthew Poplett of Hellier Langston said:

“By providing expert property advice on the requirements of modern occupiers and ensuring the refurbishment met excellent standards, we were able to offer the warehouse and industrial market two buildings that are best in class and as good as any new build on the market.”

Hellier Langston continues to encourage pension funds, property companies, private landlords, and businesses across Southampton, Eastleigh, Winchester, Fareham, Portsmouth, the New Forest, Hampshire, Dorset, and the wider South of England to review their property portfolios, particularly units nearing vacancy, to explore ways we can help maximise returns.

Team

Agency Disposal: Matthew Poplett