Admiral House, Station Plaza, Newport
Combined investment, development and leasing advice resulting in sale and profit to client

Article by

Graham Davies
Director
Investment Agency

(029) 20 346346

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Sector: Offices

Services: Investment Agency; Office Agency; Development Land

Client: Scarborough Development Group

 

THE PROBLEM

  • Major city centre redevelopment site adjacent to Newport railway station
  • Recessionary period of 2012/13 as the scheme was evolving and Newport was a challenging location in which to build a new Grade A 80,000 sq ft office

 

THE SOLUTION

  • Cooke & Arkwright provided Client with occupational and development advice from outset
  • Cooke & Arkwright advised the Client on investment implications of leasing terms agreed in negotiations with Admiral Insurance
  • Cooke & Arkwright worked jointly with CBRE to give both an international and regional overview of the prevailing market conditions and put in place a comprehensive investment marketing campaign

 

THE RESULT

  • Cooke & Arkwright successfully negotiated a sale of the completed 80,000 sq ft office investment to WP Carey in September 2014
  • Sale price achieved reflected a £1.75m premium over the quoting price, as a result of competitive bidding generated
  • Delivered client sale of the property simultaneous with practical completion and signing of lease to Admiral, releasing their money on time