The Marketing and Asset Management of io Centre, Redditch
Working with renowned developers The io Group Limited we assisted in the design and creation of Redditch’s best regarded industrial development. Following the successful letting of Phase1 we advised on the creation of Phase2 which has remained fully occupied since the initial lettings. We have continued to provide asset management advice to the owners of the development undertaking numerous lease renewals, rent reviews and lease re-gears.
Phase 1 of The io Centre was speculatively constructed in 2000 and comprises 10 high quality Industrial Warehouse units totalling 80,000 sqft on a secure fenced and gated site. Following the sale of the development by The io Group Limited to The Church Commissioners we were instrumental in bringing forward and advising on the development of Phase 2 which comprised 3 detached Factory Warehouse units totalling a further 70,000 sqft.
A proactive marketing campaign coupled with our unrivalled relationships with the Local Business community allowed us to attracting and securing Tenants to Phase1 of the development, Tenants included occupiers such as Crown Labels; Jotul and The AA. In a difficult economic climate we were able to achieve record rental levels within Redditch giving our Clients the confidence to develop Phase 2.
Our market knowledge was instrumental in the success of Phase 2. We initially identify short fallings in the local property market and advised on the design and nature of the buildings constructed then undertook as targeted marketing campaign successfully letting two of the three units prior to practical completion of the Units. The remaining Unit was let soon after completion again via a proactive marketing campaign to BASF.
Following the sale of the Development in recent years to Aberdeen Asset Management we have been retained as Sole Agents on all lettings and have also provided Asset Management advice undertaking both Lease Renewals and Rent Reviews.
By being locally based and involved in the Business community we have maintain close relationships with the Tenants, this has enable us to manage Tenants requirements rather than waiting for key Lease dates. The success of this proactive management has enable us to create a Development with extremely high occupancy levels since it construction and a lease structure that has added significant value to our Client’s asset value.
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