10 Newhouse Farm Chepstow Wales UK
The existing tenant moved it’s manufacturing operation to mainland Europe and was no longer fully utilizing the premises and were thus unlikely to remain in occupation at the end of their lease. Cushman & Wakefield advised client on how best to minimize risk and to secure a new tenant.
Cushman & Wakefield recognized that the existing tenant was unlikely to renew. As a result their client would in all probability have a vacant unit to let with potential dilapidation issues at the end of the existing lease.
- Early dialogue with tenant
- Agreed repairs/dilapidations
- Marketed the property on modern lease terms
Cushman & Wakefield were able to secure Uniserve on a new lease whilst facilitating the early surrender of the existing lease. Cushman & Wakefield also agreed a full schedule of works which were undertaken by the outgoing tenant prior to them vacating the property.
- New 10 year lease on improved market terms
- No dilapidations
- No marketing void period