Leofric Court is another multi-let office development which came into the management portfolio of Drake Howard Property, relatively recently.
In a short space of time our experienced team has focused on improving the environment in which the building stands, by careful service charge budgeting. Landscaping and planting has been upgraded, including new path with steps and handrail on the frontage embankment. The tenant directory board has been renewed and building signage erected to give the estate a contemporary, corporate image. The entrance barrier call system is now a modern unit operated by SIM connection to each office and parking spaces at the front of the building have been designated for visitor and disabled use.
Combined with essential remedial work to remedy an arrears of maintenance; such as relining lead valleys and repointing brick footings and garden walls; Leofric Court is now fit for purpose.
Property management attention to detail and Landlord spend on improvements has once again paid off very quickly, with a letting of the last empty unit.
Saint Gobain Building Distribution, the parent to Jewson the Builders Merchant and Graham’s the Plumber Merchant, has taken a 5 year lease on 1 Leofric Court, which extends to 2,135 sq. ft. over two floors.
A headline rent of £19,500 per annum was agreed, to reflect the quality and cost of an impressive re-fit to a ‘Digital Hub’ for the Company’s customer experience operation. Suspended ceilings have been swapped for a new grid, acoustic tiles and LED light boxes. A glass fronted meeting room, new kitchen and staff break-out area has been constructed and the entire premises, decorated and furnished in an interior designer scheme.
A spokesman for the Landlord, Forest Team Limited, congratulated the letting and managing agent. “Martyn Howard and his team has done a remarkable job at Leofric Court. The property had become a concern to us and was not maintaining its position in the market. Empty space was not attracting the level of demand of past years.
A skilled and experienced property management team has made the difference. We are pleased to have spent a little to accumulate a lot and, we do not intend to stop here. It is our intention to assess architect designed improvements to the building fabric with our agent, Drake Howard Property.”