Globally recognised, estate agents Savills, invited suitable contractors to tender for an internal and external refurbishment to an industrial estate unit. Savills and the property owners, a pension fund, took confidence in our bid, demonstrating our experience and technical knowledge. We were commissioned to survey, develop specifications and manage all aspects of the project, which consisted of a 20,000 square foot industrial unit, incorporating office space and storage.
The property was a typically standard industrial space, which unfortunately had become vacant. The pension group owners had a desire to fully refurbish both inside and out, before re-marketing the building and maximising profitability. Having worked successfully with Savills previously, we were aware of the required standards for the property. Our technical and design teams developed the roofing specification, in particular the gutter design, as existing gutters required an increase in size. We additionally completed u-value calculations to confirm the necessary insulation to bring the roof up to current building regulations.
- 1,600m2 of asbestos roof overcladding
- 10 week turnaround
- Office and kitchen refurbishment
- Full interior re-decorated
- Roller shutter door replacement
- Increase in the value of the property
- Help to regenerate a marketable asset
Challenges and Solutions
The main challenge around the project was the timescale, which was a 10-week turnaround, as there was a high level of work required to bring the property back to a desirable look, condition and facility for new tenants. We delivered an asbestos roof overclad, covering a roof area circa of 1,600m2, completed in January 2020. We brought further value for the client over the project with additional works, including; office and kitchen refurbishment, full internal decoration and the replacement of roller shutter doors.
For pension fund groups, property assets provide a healthy investment portfolio opportunity and the possibility of good re-sale value at some point. What is critical throughout the property’s lifespan, is that it’s in a good and fit for purpose condition, that can be continually let, bringing regular revenue. Following our programme of works, the potential increase in value is positive for the pension group, as well as the fact that the property was quickly leased to new long-term tenants.