CASE STUDIES
Case Studies
Industrial
Great Weston Trade Park, Weston Super Mare
Hartnell Taylor Cook LLP advised Highlife Weston Limited on the purchase of a site fronting the A370 in Weston Super Mare for a new Trade Park and advised on the proposed development, the marketing and letting of the units and the subsequent investment sale.
Planning consent was granted in August 2000 for a new 42,000 sq ft mixed industrial/storage park to be developed in the rapidly commercial/retail and residential area located to the east of Weston Super Mare town centre and lesss than 1 mile from junction 21 of the M5 motorway. The highly prominent site was developed to create 11 self contained trade units in four terraces.
The Park was let to a mix of local and national businesses including The Aqua Store, Space Plan It; Room " Space Limited generating a rental equating to £7.50 - £8.50 per sq ft. Unit 1 was sold on a long leasehold in 2005.
In 2010, Hartnell Taylor Cook LLP's investment team were instructed to market the estate which was fully let except for unit A2, producing a net income of £260,715 per annum with a mixture of lease expiries. The investment was sold for £3.54 million reflecting a net initial yield of 6.96% to Henderson Global Investors (on behalf of London Borough of Southwark Pension Fund).
Client: Highlife Weston Limited