In March last year Drake Howard Property reported acquisition of a modern warehouse unit in Earlsdon on behalf of an in-house property investor.

11 Clarendon Street is a 5,540 sq. ft. (515 sq. m.) warehouse and yard on a secure site but was in a poor condition, hidden by conifers and in need of general upgrade.

Martyn Howard set about producing a modernisation specification to be tendered for contractor prices.

Repair and replacement of boundary walls and fences. Side yard scrape off vegetation and stoning, to be replaced with new granite chippings. Frontage removal of conifers and replacement with steel fencing to match existing gates and returns.

Tired cladding, roller shutter paint, window coatings, and peeling Plastisol roof sheets, specified for specialist treatment in a petrol blue finish. Block sealed loading and fire exits reinstated with doors repaired and upgraded for security.

Internally, the warehouse was stripped of poor-quality partitions and offices were designed to have new suspended ceilings, LED panels, air conditioning and carpet tiles. Electric installations were to be brought up to standard. Kitchen and toilet fixtures modernised and decorative finishes renewed.

On completion of the works at a cost of around £70,000 the property has been marketed, and attracted a stream of internet marketing enterprises and others. A patient approach by the asset owner secured a letting to an established and financially strong business, in I. Q. Medical Limited.

Martyn commented, “the project was not always the easiest and several issues arose along the way. Removal of conifers in a conservation area required consent and when the trees were taken out, a mixed bag of responses was received from residents in the street.

Treatment of the cladding and roof was an expensive undertaking, but I am pleased the result speaks for itself.

Then, development of flats at the rear of the site created a party wall issue, resolved with the able assistance of B. A. F. Adams building surveyor.

The number of viewings was incredible, but in the main, came from new ventures or, young business which on research, appeared to stretch finances. The owner could afford to wait for a strong applicant to secure the return on purchase and capital invested which was merited.”

I.Q. Medical is a provider of support services, including mattresses and cushions fitted with air compressors, to hospitals and clinics to meet the needs of carers and patients in the prevention of pressure injuries. The business has relocated from Stretton Under Fosse and taken a 6-year lease at Clarendon Street.