Auckland House Lydiard Fields, Swindon
Corporate Real Estate
Openwork, one of the UK’s largest financial advice networks, had outgrown its existing office building in Swindon and appointed Smethurst Property Consultants to provide strategic commercial property advice in respect of market / off market opportunities in the Town.
Openwork wanted the new office to be large enough to accommodate future growth, to a Grade A specification and to be in close proximity to their existing facility.
Smethurst Property Consultants investigated all possible options and through their in depth knowledge of the Swindon office market and their network of property contacts identified Auckland House as a stand out opportunity having excellent environmental credentials.
The premises was located adjacent to their existing facility , had 36,000 sq ft of open plan floor space along with 120 car parking spaces. Smethurst Property Consultants had established that BP/ Castrol were looking to vacate the building come lease expiry and this represented a fantastic opportunity if market forces could be kept at bay.
The building was purchased off market after negotiations, at a price that more accurately reflected the state of the market. This particular case highlights our skills in identifying an opportunity, putting together a strategy, implementing the investment strategy and achieving a successful purchase.
Smethurst property Consultants also put in place a professional team to assist with the Valuation of the asset and the successful negotiation of a dilapidation settlement with BP / Castrol.
Openwork will be undertaking a full refurbishment and fit-out of the new offices and Smethurst Property Consultants have been retained to market the 2nd Floor which is surplus to requirements.