Track record

Disposal of Units 4-5 Wave Trade Park, Acton

Lookers Plc

Instructed to consider disposal options for Lookers on surplus units

Wave Trade Park, Acton

Lease Advisory

Service

Automotive & Roadside

Industry

Daniel Cook

The project

Rapleys was instructed to consider disposal options for Lookers on these surplus units which sit to the rear of their JLR dealership in West London.

We were instructed to formally market the units and secure a disposal either by way of assignment, underletting or surrender of the lease to the landlord but the latter option was hampered by the fact that the remaining units on the estate were unoccupied.

Following an extensive marketing campaign, Rapleys was able to secure the assignment of both leases to a local film company in exchange for only a limited premium and in spite of imminent rent reviews on both units.

Our solution

  • Conducted an extensive marketing campaign targeting national and local occupiers
  • Liaised with the landlord in an attempt to secure a suitable tenant quickly
  • Identified an assignee for both units in spite of an imminent lease event
  • Liaised with solicitors through to completion.

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