As part of a workout mandate, Cordatus implemented a revised marketing campaign and secured new tenants for a previously failed scheme.
Active Asset Management of Retail Warehouse
As part of a workout mandate, Cordatus implemented a revised marketing campaign and secured new tenants for a previously failed scheme.
Acting on behalf of the administrator, Cordatus maximised this asset’s value through careful asset management before timely exit to achieve optimum return.
Location: Longwell Green, Bristol
Investment type: Retail Warehouse
Investment partner: Administrator
This first generation, poorly configured, retail warehouse property was lying 50% vacant and the remainder was let on a short-term lease to a national retailer. Cordatus invigorated the letting campaign, promoting the vacant units more positively, commissioned architects to draw up imagery for a refurbished scheme, and put in place a proactive marketing campaign. Units were sub-divided and change of use agreed, rents and lease terms were re-negotiated and new tenants secured. After gaining permissions and funding for refurbishment this asset was sold on with the benefit of improvements, for a price well ahead of market value.
