Firm's delight as Suffolk project is successful

The refurbished property which now has new tenants.

COMMERCIAL letting and management expert Scotts Property has further cemented its national portfolio, with the completion of a successful project in Suffolk – along with securing continued management of the premises’.

And in doing so, the team at Scotts, with offices in Hull, Grimsby and Scunthorpe, has highlighted the need for owners and managers of commercial premises to respond to market trends when looking to re-let attractive premises quickly.

Property investment adviser Chris Mason had advised on some large office premises’ in Ipswich since they were purchased by a client as an investment back in 2005.  Once empty, however, there was a need to alter the building to match the needs of commercial enterprise at the present time – creating smaller units inside.

Following extensive talks and linking up with agents in the Suffolk area, an investment of around £300,000 was pumped into the premises, in the city’s Museum Street. Following this work to both the exterior and interior, the majority of the 13,800 sq ft has now been successful re-let to two internationally known companies - Gallagher Insurance and Sedgwick International.

With only 20 per cent of the available accommodation now vacant, the team at Scotts is delighted to continue its management of the premises.

Partner Tim Powell, who provides business space and office sector advice within the Practice, said: “Our client recognised the need to improve the presentation of the premises and common areas to meet occupier requirements and allow subdivision of the space to meet reduced spatial needs in today’s market. 

“A team effort with local agents, contractors and the ingoing tenants led to an efficient and speedy refurbishment to accommodate pressures for early occupation on the part of both tenants operating internationally in the insurance sector.  As a Practice this is one of many properties that we manage, both locally and nationwide, under the stewardship of Ed Chisholm, Partner in the Practice, and property management colleagues,” added Tim.