Project
Our clients instructed us to acquire additional warehouse and distribution accommodation for a rapidly expanding UK retail company. The business has been growing over the last 10-15 years and is one of the UK’s retail success stories. Yours Clothing as well as brands including Bad Rhino and Long Tall Sally, have been expanding its national retail and online presence with the main distribution headquarters facility located in Peterborough. Having acquired the original Headquarters building of 130,000 sq. ft. in June 2018, we were tasked with acquiring at least the same amount of accommodation to expand the distribution function.
Approach
We searched for appropriate buildings and after some discussions, identified and acquired an additional 130,000 sq. ft. at Orton 130 from landlords Paloma Capital. We provided advice in relation to lease terms, rent and then provided separate building surveying services in relation to providing a comprehensive schedule of condition identifying items of disrepair and ensuring our client’s repairing liabilities were limited.
Upon satisfactory completion of the lease, Paloma Capital decided to sell the freehold interest and we were tasked with acquiring the same which we successfully negotiated and completed in July 2018.
Results
The satisfactory acquisition of distribution and warehousing accommodation to, in effect, double the capacity of the client’s existing facilities.
