About

Bishops Court is an 8 unit industrial estate that extends to 110,000 sq ft with a specification including steel portal frames, 5m eaves and roller shutters. Occupiers included Bliss Supplies, New-Le-Willows Blinds and Optibelt.

Project Description

Upon acquisition, there were 3 voids presenting an opportunity for HMG to increase the income by injecting capital to fully refurbish the premises including new roof / roof lights, internal strip out of previous tenants fixtures and fittings, updated services, improved general landscaping and enhanced estate branding. By Early 2017, HMG had secured new lettings to national occupiers including Yodel and Secured Mail and the estate was fully let. When acquired, the general tone of rents ranged between £2.50psf and £3.50psf. Following the successful implementation of the above asset management strategies the vacant units were let at £4.25psf generating additional income and significantly increasing the capital value of the asset. HMG sold the property in Dec 2017 at a price of £6.7m.