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Case Studies Imperial Place Sold

 
Imperial Place, Borehamwood

The marketing drive continued with monthly agency and client meetings, where occupational requirements were reviewed. Options to enhance site presentation were also discussed with Mayfield coordinating the signage rebranding of Imperial Place, whilst ensuring tenant disruption was kept to a minimum.

To further assist with new lettings, and to keep client void costs low, Mayfield also renegotiated service contracts such that services were being provided competitively whilst not compromising on the quality. 

The introduction of a café operator to the site further enhanced the services on offer and also improved the community spirit of the campus. 

Through regular tenant interaction, Mayfield developed strong working relationships with the tenants allowing the client to also successfully negotiate lease re-gears and expansion opportunities with existing occupiers.

The client sold the asset to Valad Europe, transferring the management instruction to their in house agents, Vine Property Management.

Name

Imperial Place, Borehamwood

Location

Borehamwood

Property Type Office
Area

224,227 sq ft

Vacancy

Pre:  93.9%
Current:  25.4%

Status Sold
Description

 

Instructed on a full property management basis, Mayfield worked closely with the client and their professional teams in the coordination of the refurbishment and re-letting campaign at a large office campus in Borehamwood.

 

The Challenge

Following the agreement of a surrender with the main tenant at a 224,000 sq ft office campus, the client was faced with a 93% vacancy rate in a suburban London office location. The challenge presented was to embark on a re-letting campaign at a peripheral location, whilst ensuring the site presented well but occupational costs were kept competitive

Client Brief

Arranged across four buildings, the client’s initial remit was to undertake an extensive refurbishment of the space, to create Grade A lettable offices, and this was to include the building fabric and the mechanical and electrical plant. The aim thereafter was to bring the space to the market, being flexible with the offer to meet occupier requirements.

Re-furbish, Re-market, Re-let

During the refurbishment stage, Mayfield worked with the assembled project team to coordinate and drive the swift delivery of space. Thereafter, Mayfield put in place a dedicated facilities management team to secure the delivery of the required services for incoming tenants.