Richard Smith of Fifield Glyn reports considerable activity at Gadbrook Park, near Northwich where acting behalf of ABS Bodyshop Services Ltd., Fifield Glyn have acquired the Freehold interest of Meridian House, Gadbrook Park, which was formerly owned by Avecia Biotechnology for an undisclosed sum.
The building, which was formerly used as laboratories and offices, comprised a gross internal area of approximately 24,400 sq.ft. (2,266 m2) on a 1½ acre site with 65 car spaces.
ABS Bodyshop Services Ltd. have retained Fifield Glyn to advise them in connection with the ‘strip out’ of the laboratories, offices, plant and air handling systems and the subsequent total refurbishment to provide a significantly increased net usable area of new fully-fitted open plan and cellular offices, new Entrance, WC, kitchen and staff facilities and reconfigured car parking for up to 79 cars.
Fifield Glyn have already agreed terms on behalf of ABS to pre-let approximately 6,000 sq.ft. of surplus office accommodation. Lambert Smith Hampton advised Avecia Biotechnology in connection with the sale.
Fifield Glyn acting on behalf of Osborne House have agreed to sell a 1.2 acre development plot on Gadbrook Park to Willan Developments for approaching £300,000 per acre.
Willan Developments propose to speculatively develop two separate two-store self contained office buildings totalling 26,000 sf (>) capable of sub-division from 2,000 to 5,000 sf together with 100 car spaces which will be offered Freehold or Leasehold. The Agents will be Fifield Glyn and DTZ Debenham Tie Leung.
Osborne House, through Fifield Glyn, have also agreed a sale of 3.2 acres to Roberts Bakery at around £250,000 per acre. Frank R. Marshall advised Roberts.
Acting on behalf of Osborne House Ltd., Fifield Glyn have arranged a simultaneous surrender and new letting of No’s 1 and 2, The Stables, Gadbrook Park comprising approximately 7,400 sf (gross) plus 46 car spaces, to Connexions, the Government’s youth education and careers advisors.
They will enter into a new 10 year FRI Lease with a 5 year Rent Review at a rent rising to £100,000 per annum, equating to £13.50 psf.
Richard Smith of Fifield Glyn advises that in view of the high level of enquiries from both Tenants and owner-occupiers he will shortly be advising his Clients, Osborne House, on a new speculative 6,000 sf single storey office development known as 4-6 Royal Mews, Gadbrook Park, which can be sub-divided to provide units of 1,500 sf and 3,000 sf and which will be available for sale or to let. Quoting prices are £145 psf Freehold and £14.50 psf Leasehold.