News: Henderson delivers a 150% return from innovative property transaction
A complex, and profitable, property transaction by Henderson Global Investors led to Home Décor’s relocation to Rotherham.
Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, recently opened its 110,000 sq ft state-of-the-art factory at JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence.
In 2006, Henderson acquired the leasehold for an 88,000 sq ft warehouse on Beighton Road in Mosborough, Sheffield, which was let to Home Décor under a ten year lease from May 2006 for £5.7m.
Having identified the site as an opportune potential for supermarket development, Henderson acquired the freehold in 2010 in order to explore this opportunity. Terms were then agreed to sell the site to ASDA, subject to ASDA obtaining an outline planning consent for a food store and Henderson relocating the Home Décor business to a new site.
Terms were agreed to acquire the land at Fence and enter into a "turn-key" transaction with the landowner, Finnegan. The detailed specification was agreed to a very high standard.
Construction completed in November 2012 and lease terms for the new facility were duly agreed with Home Décor taking a new 15 year lease. In December 2012, following Home Décor’s relocation of its entire business operations, the Mosborough land was sold to ASDA for £16m, who will now develop a new 90,000 sq ft food store.
Cameron Fraser, director at Henderson Property said: "This complex project involved a number of parties, including the original freeholder, ASDA, Sheffield City Council, Home Décor, and Henderson, who were all required to work cohesively in order to achieve the end result.
"To achieve a change of use to a food store, to locate, and build a new industrial unit and to relocate our existing tenant on time and on budget is a real testament to the principle team across the project.
"Not only have we been able provide Home Décor with a brand new unit (including a category B fit out) which is more suitable for Home Décor's business growth ambitions, we have also paved the way for a new ASDA development which will deliver a number of employment opportunities to the local area. To deliver the project all the way through from a speculative and ambitious idea at the origin is truly satisfying."
Henderson was advised by Howlings Hodgson and Lambert Smith Hampton (LSH).
Home Décor website
Henderson Global website
Images: Henderson Global
Home Décor Innovations, one of the leading suppliers of floor-to-ceiling sliding doors and associated storage systems in Europe, recently opened its 110,000 sq ft state-of-the-art factory at JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence.
In 2006, Henderson acquired the leasehold for an 88,000 sq ft warehouse on Beighton Road in Mosborough, Sheffield, which was let to Home Décor under a ten year lease from May 2006 for £5.7m.
Having identified the site as an opportune potential for supermarket development, Henderson acquired the freehold in 2010 in order to explore this opportunity. Terms were then agreed to sell the site to ASDA, subject to ASDA obtaining an outline planning consent for a food store and Henderson relocating the Home Décor business to a new site.
Terms were agreed to acquire the land at Fence and enter into a "turn-key" transaction with the landowner, Finnegan. The detailed specification was agreed to a very high standard.
Construction completed in November 2012 and lease terms for the new facility were duly agreed with Home Décor taking a new 15 year lease. In December 2012, following Home Décor’s relocation of its entire business operations, the Mosborough land was sold to ASDA for £16m, who will now develop a new 90,000 sq ft food store.
Cameron Fraser, director at Henderson Property said: "This complex project involved a number of parties, including the original freeholder, ASDA, Sheffield City Council, Home Décor, and Henderson, who were all required to work cohesively in order to achieve the end result.
"To achieve a change of use to a food store, to locate, and build a new industrial unit and to relocate our existing tenant on time and on budget is a real testament to the principle team across the project.
"Not only have we been able provide Home Décor with a brand new unit (including a category B fit out) which is more suitable for Home Décor's business growth ambitions, we have also paved the way for a new ASDA development which will deliver a number of employment opportunities to the local area. To deliver the project all the way through from a speculative and ambitious idea at the origin is truly satisfying."
Henderson was advised by Howlings Hodgson and Lambert Smith Hampton (LSH).
Home Décor website
Henderson Global website
Images: Henderson Global
0 comments:
Post a Comment