Project Description

Acquired in late 2013 with the residue of a lease to food distributor 3663, 9 Nuffield Way was a 26,000 sq ft cold store and distribution facility with associated office accommodation. The property dated from the 1970s and was in a tired condition, and whilst it benefitted from an excellent position within the estate and potential prominence over the A34, this had not previously been exploited.
A comprehensive refurbishment and rebranding of the original warehouse has been carried out so that it now provides excellent trade counter accommodation, with glazed curtain wall trade counters, new triple skin composite roof, loading doors, full external recladding and excellent parking levels on a newly resurfaced yard. The refurbishment of the former office block has recently been completed, with new cladding to all elevations, a new glazed trade counter entrance and roller shutter door being installed. Internal works included the opening up of all internal walls to provide quality trade counter space on the ground floor.
Since completion of the works programme, four units have been let to two tenants at an average rent of £9.15 psf, an increase of 53% when compared to the previous rental value of £6 psf. The final unit was let to Trinity Fire and Security for a rent of £75k per annum (£14 psf) on a 10 year term.