Cedarwood were instructed on behalf of an investment consortium to be Asset Managers for this 46,000 sqft industrial / warehouse property in August 2014. The current tenant, Brakes were seeking to vacate the premises and Cedarwood had ongoing discussions with Brake’s agent about interested parties and the potential to either buy the building or let or undelet the property.

Brakes had considerable interest in the property and eventually negotiated a sub lease to Whistl (Formerly TNT Parcels) to lease the premises.

 

Cedarwood negotiated a new rent review of the rent with Brakes, increasing the rental to £235,000 pa.

 

Cedarwood then managed the sale of the investment, on behalf of the consortium at a price of £2.69m to Moonraker Limited which completed on 4th December 2015.