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Hands on Asset Management Strategy Creates Triple Lettings at Astmoor

Three tenants based at Astmoor Industrial Estate in Runcorn have agreed to 10-year leases following an active asset management strategy by the team at FI Real Estate Management (FIREM).  

Rubber products manufacturer, Vibro Technical Services Limited (VTS) sought a larger unit for their operations as recent success had seen the company double in size. With no vacant units on the estate available in the timescales needed, FIREM proposed a unit that required refurbishment.  Together both parties agreed an early tenancy and that refurb works would be undertaken with VTS in situ.  FIREM tendered and instructed a local contractor, Comm Commercial, to carry out the refurb, including a new roof and external cladding, whilst ensuring minimal disruption for VTS.

Retail Catering Solution Limited (RCS), an outlet design and installation business, were actively looking for 12,000 sq ft of quality industrial space in Astmoor however, FIREM didn’t have a single unit large enough to meet their requirements. The asset team adopted a proactive  approach which identified that there were two potentially suitable units if an existing tenant would agree to an early lease surrender.  

The unit in question was not being fully utilised by its tenant and once approached they agreed to vacate the unit early. The deal benefited their business as they needed to relocate due to contracts they had secured outside of the Runcorn area.

 

 

 

RCS took over the two units within their deadline and have since significantly invested in the units through a full refurbishment and construction of a new catering kiosk to showcase their products to clients and local occupiers.

The final letting was secured with Muddy Fields Campervans Ltd, a specialist in the refurbishment and restoration of campervans.

They were experiencing difficulties in their Warrington unit, suffering from roof leaks and significant repairs needed to bring their base back to life. Attracted to Unit x because of the refurbished condition and manufacturer’s roof guarantee, they relocated to Astmoor on a 10-year term. 

The Estates Manager for FI Real Estate Management said “FI’s ethos of investment to create long term value is demonstrated brilliantly at Astmoor Industrial Estate. Attracting tenants from the wider area and helping the existing businesses to expand is mutually beneficial for both parties”.

 

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