Following the complete refurbishment and separation of a dilapidated building, South Coast property consultant Holloway Iliffe & Mitchell have recently completed the triple letting at 10-14 Grove Road South, Southsea.
No 10 was let to Absolute Running, an independent business who specialise in the sale of running footwear, through providing expert advice and facilities in which to test the footwear. The company have been trading in Gosport for numerous years and were keen to expand and offer their services in Southsea.
No 12 was let to Freya Rose, an award winning independent business who specialise in the sale of designer shoes and accessories. Freya who is regarded as one of the UK’s leading shoe couturiers, is originally from Southsea but has established a successful business in London for over 10 years. Despite initially wanting to expand the business into Marmion Road, after consideration it was felt that Grove Road South and the appearance of the property complemented the business.
No 14 was let to Dimples and Daisies Photography, a fast-growing business offering niche photography sessions. The company was set up 3 years ago, and were keen to provide a retail presence in which enhance their business further.
Commenting on the lettings and specifically the service provided by Holloway, Iliffe & Mitchell owners Mark Brumham and Glenn Isted said:
“From the very earliest stages we were recommend to Holloway Iliffe and Mitchell as our very dilapidated premises was about to become vacant. An early inspection was carried out by Luke and the easiest thing would have been simply to offer the property as a single unit. However, Luke offered his suggestions, with the advice being to convert the unit into two. A basic plan was drawn up and the sales particulars drawn up on this basis.
As a result of the plan and the descriptive details we were pleased to get a number of initial enquiries. A number of these enquires included a change of use to catering and again Luke was able to provide valuable experience on what would be required to achieve a change of use.
We applied for change of use, which was not easy, but again, thanks to the advice we received we actually achieved a change of use (which in the end was not implemented).
During this time, Luke was able to provide very detailed information on each enquiry, which included business plans and links to existing businesses.
All this time we were converting the property and despite numerous enquires we were struggling to get a tenant to commit. We held a site meeting with Luke and discussed the alternative marketing opportunities, which included investing further funds to split the unit into three, which on the back of Luke’s recommendation we did.
After what seems an endless supply of enquiries Luke found three suitable tenants, unfortunately that’s where the work started. We had to draw up three new leases for what were fairly demanding tenants and we had a few legal problems of our own which Luke had to communicate with the proposed tenants.
We started marketing the property in October 2015 and we completed on the last shop in January 2017. This is the first-time Glenn and I have been through this process. As clients, the feedback we would give is that, Luke and your company never gave up looking for tenants, you were always enthusiastic in providing alternative solutions, you told us when you felt a deal was a bad one and not to pursue it and you also highlighted the good ones. Most importantly you did not stop after you found the tenants. It seems to me that Luke did even more work in ensuring the deal actually went through, communicating with both solicitors, ourselves and the tenants. No doubt being a really pain for the solicitors, but actually being a key player in ensuring the deals went through.
You were on hand from start to finish, including meter readings (above the call of duty), a very impressive service all round and we will have no hesitation in recommending Luke and your company in the future.
Thank you for all your help and support.”
Also commenting on the lettings, Luke Mort, Commercial Agent at Chartered Surveyors Holloway Iliffe & Mitchell said:
“I am delighted to have been involved in the marketing of such a feature property.
From initial inspection, it was clear the property required some much-needed refurbishment. Luckily as the premises were located in a local conservation area this included the retention of some of the original features, including the original shop frontage and parquet flooring.
As the refurbishment works progressed it was clear to all that the decision to improve and separate the units was worthwhile and lead to them becoming sought after. This resulted in a vast amount of proposals being received and provided a difficult decision of which to accept.
All proposals were reviewed on merit and regular discussions were had with Mark and Glenn to ensure the most suitable tenant mix was found. The decision to proceed with 3 local and independent businesses epitomises the tenant mix of Southsea and are complementary of the property and location.”
Holloway Iliffe & Mitchell remain very active in the commercial property sector, in Havant and along the South Coast and seek new instructions to satisfy their active applicant database.