Edison Park, Swindon
Aquisition and Asset Management
Smethurst Commercial Property Consultants (SCPC), through our market knowledge and experience, identified the opportunity that existed at Edison Park, Swindon. The estate’s difficulties, culminating in receivership had been well documented during the recession.
It was a great opportunity for an investor who had sufficient funds and the potential to acquire it quickly. The challenge was to find a suitable buyer.
- Smethurst Commercial Property Consultants conducted appropriate research, an assessment of the park and introduced Edison Park as an investment to Shelbourne Asset Management, whom we identified as suitable buyers.
- We then adopted a multi-pronged approach to secure the property.
- We bought it at a price ahead of the owners’ book value, which was a good deal for both parties involved.
- The estate’s difficulties, culminating in receivership had been well documented during the recession and the next challenge was to reposition the Business Park in the context of the Swindon office market.
- Smethurst Commercial Property Consultants devised a new marketing campaign for the estate and provided advice and recommendations on asking rents and incentives.
The new approach has seen lettings to Be Wiser Insurance, Newsquest and On Semi Conductors and re-established Edison Park as an office destination of choice.
We have also been advising Shelbourne Asset Management on the refurbishment of the vacant units on the state along with providing lease advisory services.
This case highlights our skills in identifying opportunity, putting together a strategy, implementation of the strategy and achieving success on the acquisition of the property.