The need for perfect presentation is a comment often made by agents when putting any form of property onto the market, be it industrial, warehouse, office or retail space. Proof in point came from a recent deal completed by Tim Gilbertson of FHP at Glaisdale Point on Glaisdale Drive Industrial Estate in Nottingham as by presenting the building in superb condition the new occupiers, Eight Days a Week Print Solutions Limited were secured, fighting off competition from less well presented buildings in the process.
The deal sees this high calibre building of 10,000ft² let on a new 10 year lease, a great deal for the landlords and also a great deal for the tenants as it enables them to continue with their rapid business growth and expansion.
Tim Gilbertson of FHP who dealt with the letting commented:
“Often when landlords have empty buildings, no rental income and the prospect of paying empty rates they can baulk at the prospect of spending more money to refurbish and present in the best possible condition.
My advice though is always that prefect presentation is essential in a poor market, but equally important in an improving market which we currently find ourselves in, to provide the best possible chance of a quick re-letting and a long term deal being secured.
The letting of Glaisdale Point proves this theory as by presenting the building in superb condition, literally in the same order as when first built has proved key to securing our new occupier when they were considering other less well presented premises too.
Tenants do not expect to have to undertake improvement works on a premises, quite rightly so, and it is particularly gratifying that when recommending to a client a full refurbishment programme that that programme then effectively secures a letting and the resumption of income on an investment.
The letting all round is good news that sees a further high calibre unit let and off the market, further strengthening the improved local commercial property scene but more importantly sees a locally based company expanding and relocating as they react positively to the improving economic conditions in the wider market.
Pleasingly though this is not end of the good news on Glaisdale Point as for the same client we have a further unit available, Unit 2 which is slightly larger at just under 16,000ft² which again has been presented in immaculate order and is ready for occupation now. I would welcome any enquiries from parties who want to locate to one of the best estates and certainly one of the best presented units in the region.”