Theale, Theale Commercial Estate

Lease regears

The Challenge

Aviva own Theale Commercial Estate, a 20 year old industrial estate on the outskirts of Reading. The value of the estate had been falling, this was in part because most of the units were in a poor condition and also because the unexpired terms of the let units were diminishing.

The Solution

Campbell Gordon were appointed to work with Aviva to maximise the value of the estate. They worked with the tenants to regear the leases and refurbish the units to a high standard.

The Result

New leases are now in place with 7 tenants, with 8 units having been refurbished and 5 due to be refurbished. As a result there has been a substantial increase in the value of the estate, enhancing performance for the fund.

'We have used Campbell Gordon for many years to help maximise value in our industrial and office holdings in the Thames Valley. They offer a depth of knowledge about the dynamics of local occupier markets and bring tenacity and attention to detail to negotiations. Their advice is pragmatic and tailored to understand the investment management requirements of pension fund clients'.

Richard Peacock - Assistant Fund Manager, Aviva Investors

Other Asset Management case studies:
Fleet, Sentinel House: Income enhancement 
Reading, Green Park: Office re-configuration
Reading, South Street:  Lease regear
Wokingham, The Business Centre: Industrial lease regear