Client sought strategic advice on meeting their future property requirements.

Key points

• Offices were overcrowded, dated and poorly located.
• Advised against an extension, would cost more than than the value gained.
• Obtained planning consent to change to residential use.
• Arranged pre sale and short term leaseback to provide funds for relocation.
• Site identified, purchased, planning obtained and works tendered.
• Project managed the new build and fit-out up to completion and occupation.

Project details
Our client's head office was overcrowded, with poor working conditions and in an unsuitable office location. 

The simple solution was an extension in the grounds but this was ruled out as the costs were well in excess of the added value leading to a significant capital loss.

After obtaining planning consent for a change of use, because the buildings were in a prime residential area, they were sold for a sum greatly exceeding book value which allowed the funding of the purchase of an alternative site and the building of a new headquarters of approximately 60,000 sq ft.

The project was overseen by Colliers CRE at all stages and the charity were able to move into their new building with minimum disruption and minimum cost. The new modern environment has lifted staff morale and given a significant boost to the Charity whilst allowing for further expansion.

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