Albany Trading Estate, Chorlton

Circumstances prior to our instruction.

• Small Trading Estate: 16 units let to the local authority and sub-let
• The lease with the local authority was coming to an end
• premises were in very poor condition despite FRI lease
• 9 units occupied, 7 units vacant
• Passing rent
• Sub-rents below market rents

Our instructions from June 2009

• Advise on dilapidations
• Renew subleases on full market terms
• Let the vacant units
• Manage the estate.

Outputs

• Dilapidations settled; six-figure settlement.
• Repairs implemented and estate upgraded
• All sub-tenants transferred to modern FRI leases with service charge and on full market rents
• All vacant units let go despite difficult market
• rent roll increased by over 15%

Please contact our expert team.