Reading office / industrial sale

Foundation House

The Challenge

Thomas Vale Construction owned the freehold of Foundation House. It totalled approx. 15,000 sq.ft, split evenly into office and warehouse space. They no longer used the warehouse space, and only needed 3,000 sq.ft of office accommodation.

The Solution

Campbell Gordon were appointed to find a buyer who would pay a price in excess of the book value, and allow Thomas Vale to stay in occupation until they found suitable alternative accommodation.

The Result

Within 4 months Jo-At were identified and terms were quickly agreed. Foundation House was sold for £1.1M, £100,000 more than had been paid by Thomas Vale 2 years earlier. A deal was agreed for them to stay put in part of the building for a short term.

 
'Campbell Gordon were appointed to sell our building in Reading. We were not sure whether they property would sell, or if we would achieve the price we hoped for. However, Campbell Gordon quickly identified a buyer and oversaw the legal process, ensuring completion was within the desired timescale.'

David Newcombe - Finance Director, Thomas Vale

 

More Commercial Real Estate Agency / Disposal case studies:
Coffey: Reading Office Disposal
Newbury office underletting: Guildgate House
Reading, Green Park: Rebranding