“We are very pleased with the significant enhancement of the asset.”
Daniel Weisz, Partner at Patron Capital
Challenge The business park bought as part of a portfolio of distress assets and was 50% let at the time of purchase.
The buildings provided reasonable quality office space, but the business park itself was unattractive, with no sense of place.
Response Create a new identity by introducing a plaza and café at the centre into the development.
New signage and landscaping helps to provide a distinctive arrival experience.
No loss of car parking spaces.
Results Business park went from 50% let to 95% let within 18 months of the completion.
The entire asset was subsequently sold to LaSalle Investment Management for £40M.
The project was completed in 9 months on site.