The key to this acquisition was to identify a suitable property that would reflect Redrows corporate identity coupled with a location that could satisfy their operational requirements, which included a significant demand for car parking, which is often an issue for this type of operation.
The initial search identified a number of options that satisfied most of the operational requirements but all fell short on the parking requirements. We identified a semi-detached building that was available and were aware that the adjacent building could also be acquired. The car parking ratios for the buildings combined were significantly better coupled with their building quality, matching our clients’ corporate HQ requirements made them the ideal acquisition targets.
Through our deep network of contacts we were able to identify the adjacent owners and establish that they were willing to sell.
Clearly dealing with two separate owners was a challenge as keeping both acquisitions confidential was key to obtaining the best strike price for the clients. After successful negotiation we managed the legal process to obtain a simultaneous exchange and completion on both buildings and a successful outcome for the client.
Our consultants subsequently project managed and advised on the whole fit out process to deliver the building on budget and on time.