News

25 March 2020

New letting, lease surrender and happy tenants

Industrial & Logistics


The scarcity of both new and second-hand Industrial buildings within Brighton and Hove has impacted on the demand with the majority of availability being in two of the larger existing buildings in Hollingbury - 60,000 sq ft and Bevendean – 50,000 sq ft.



The lack of availability has meant that companies looking to relocate have struggled to find anything suitable. Brighton and Hove are greatly in need of new industrial development but few sites / opportunities. 

 

Recently our Head of Sussex Coast and Partner David Martin used some creativity to overcome the availability shortage in the Brighton and Hove area to help relocate an occupier.

 

The occupier based on the Sackville Trading Estate in Hove needed to relocate as the Estate has just received planning consent for redevelopment.

 

We successfully negotiated and agreed the surrender of a lease with an occupier on the Portland Business Park, just down the road. In turn they relocated to downsize which freed up the unit for reletting. 

 

From start to finish the process took two months with a positive outcome for everyone involved.  The landlord was also able to freshen up the Estate and move the rent forwards.

 

There remain several occupiers still wishing to get into or relocate to the Brighton area, despite the current challenging circumstances. So this could provide a tenant wanting to relocate or downsize with an excellent opportunity to resolve their property issues.


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Author

David Martin

Business Space Agency

Partner (Head of Sussex Coast)

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