“What can be done with a portfolio of two office buildings, a distribution unit of 100,000 sq. ft., and 4 acres of development land?” That was the question we asked ourselves back in 2007. Express Park is our answer; a Grade A office space within a high quality business park environment.
The distribution unit was sold to Morrisons, and the development land was sold to Avon & Somerset Police. That left us with the two buildings which we refurbished to offer space ranging from 500 – 10,000 sq. ft. The distinct lack of competing schemes and our ability to retain low rental levels has resulted in a high yielding, low vacancy asset.
The sales generated a significant return on initial equity, while the remaining assets continue to produce a high return on cost for the investors. TCN continue to manage the buildings including all letting, asset management and finance and control. We are also responsible for the management of the wider estate totalling 105 acres, with a range of users including a hotel, distribution facility, petrol-filling station and a police headquarters. Convenience meets law-enforcement; what’s not to love?