Aberdeen Asset Management owned this 14,000 sq.ft secondary office in Wokingham. The occupier had decided to vacate and so the Fund instructed Campbell Gordon to assess the office letting prospects and alternative disposal strategies, including residential conversion through Permitted Development.
Campbell Gordon assessed the market and showed that the letting prospects were poor, but that the demand from developers for conversion would be strong. The firm undertook a controlled disposal campaign to the right target audience in order to achieve the very best outcome.
The building was sold to a developer for residential conversion at a price significantly in excess of the benchmarked minimum value required.
I have worked with Campbell Gordon for many years, so I knew they understood this market well. They carried out a number of key tasks for us including an office letting campaign, planning support and ultimately the sale for residential conversion. We were delighted with the outcome and price achieved.
Matthew Cunliffe Fund Manager