Whitehill House, Windmill Hill, Swindon
Acting on behalf of the landlord, Smethurst Property Consultants successfully re-geared the lease with Arval. This not only enhanced the client’s investment and improved the income generated from the building but brought rental levels in line with current market values.
During the process, we were able to draw upon a wealth of commercial data from our extensive local knowledge which supported our case for a rental uplift and minimised our client’s exposure to excessive incentives.
Smethurst Property Consultants have since been appointed alongside Knight Frank to provide strategic marketing advice on the refurbishment of 18,000 sq ft in the building. It is anticipated that Headline Rents will move out further once the strategic asset management initiatives have been implemented.
Palm Capital manage over 2,500,000 sq.ft. of commercial real estate in the UK and Europe.
Whitehill House, Swindon is a 105,000 sq ft commercial office building that has been comprehensively refurbished. The property was purchased in 2016 and fully let on three leases with 65% of the income secured to Arval, a 100% subsidiary of BNP Paribas.