The problem was prospective significant loss of rental income due to lease expiries on a 40 year old multi-let, mixed use town centre property of c.11,000 sq. m. (c.120,000 sq. ft.). On behalf of an institution, Charles Gardner reviewed its ownership and previous design studies. This revealed a range of exciting options, but no viable solution. A review of previous options was instigated, and a new potentially better value option was added, ahead of coordinating up-to-date feasibility studies. The new option was chosen, refurbishment commenced, and a revised leasing strategy adopted. The project is expected shortly to culminate in its first major letting completing within a few weeks of contractors leaving the building.
