All the news from Keningtons.
Jeremy Sutton in our Swindon office reports 2016 was a tough year in terms of office take up but there was encouraging activity in the investment market. Disposals of offices for conversion to residential is now impacting on the level of the office stock.
Keningtons were asked to manage three insurance claims at high end flats on Bloomsbury Square.
All flats had a differing severity of damage.
Keningtons were asked to produce a Schedule of Works and gain two comparative costs.
The claim was worth £170,000.00 combined through all three flats.
Keningtons managed all three claims through to completion in collaboration with managing agents.
Clipstone Land continue to acquire industrial investments. Across three investment funds there have been a number of recent acquisitions which has taken the portfolio to over 40 assets which are managed by Keningtons LLP London and Swindon offices.
Clipstone are eager to acquire multi let industrial estates but will also consider single units but with a preference for investment properties in the south and south east regions.
For further information please do not hesitate to contact Simon Ormrod on 01793 489945.
One of Swindon’s largest vacant out of town office buildings has been sold with the benefit of Permitted Development for the conversion to 100 apartments.
Acting on behalf of a private property company and their asset managers, Keningtons assisted with the sale of the 67,000 sq ft Quadrant building at Westlea, Swindon having been marketing the property for pre lets for an office refurbishment.
Jeremy Sutton Partner at Keningtons comments, “The property became available early in 2016 when the owners completed a surrender of the previous lease with the intention being to seek pre lets for a bespoke office refurbishment. Although some early tenant interest was generated, the uncertainty caused by the referendum during the first half of the year meant tenants were not in a position to enter serious negotiations or commit to a pre let on part or all of the building. In order to keep all options open, the owners applied for Permitted Development and although not formally marketed for sale with PD, an off market opportunity arose and the sale completed in December”.
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