Flexibility for ALD’s future expansion

ALD Automotive Group has been advised by Hartnell Taylor Cook since 2013, covering all aspects of their property portfolio including the acquisition and project management of their new Headquarters building located in Emersons Green, Bristol (occupied in 2017), the exit from their office and warehouse facility in Fishponds Bristol and the recent acquisition of expansion space for the business at 1 Harlequin Office Park, Emersons Green.

Challenge
ALD relocated from dated office and industrial space in East Bristol to a purpose built headquarters building at 1 Vertex Park in 2017 following the advice of the agency and development teams based in the Bristol office. In 2018 business expansion necessitated the acquisition of further office accommodation of a similar standard to the HQ building in North Bristol.  With no time to have a building constructed and no new speculative office development available in the North Bristol office market for over a decade, this presented significant challenges.

Solution
The Office Agency team carried out a search and after identifying a number of on and off market opportunities were able to secure a high quality building at Harlequin Office Park, located less than a mile from the client’s existing HQ. Constructed in 2007 the building provided 27,000 sq ft of high quality accommodation which was acquired through an assignment of a lease held by the building’s incumbent occupier coupled with a lease restructure agreed with the landlord.

The brief was to provide space equivalent to the client’s newly constructed building and HTC’s Building Consultancy team were involved from the start of the project to provide advice on the potential for refurbishment to meet the demanding brief and ensure there were no unforeseen costs which the client would have to bear.  The service provided by the Building Consultancy team extended from pre-acquisition survey through to the ongoing monitoring of extensive refurbishment works.

Result
ALD Automotive Group were delighted with the new self-contained office building which provides the quality of accommodation the group sought to offer their staff as well as providing a cost effective, well located building providing flexibility for future expansion. The building is located in an attractive office park with ample parking and good access to both the motorway network and their HQ.

HTC offered a collaborative solution to ALD Automotive.  Alongside our Office Agency and Building Consultancy teams, our Development, Industrial Agency and Investment Agency also advised on the original requirement and success in the acquisition of the new HQ.

 

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