Investment pays off for landlord as NG provides management expertise
18th November 2019
Commercial property specialists NG Chartered Surveyors have won an instruction to provide management services to the owner of 19/19a High Street, Arnold, Nottingham.
The ground floor of the premises is let to an optician business, with the first floor vacant and in need of refurbishment. NG advised the landlord to invest in revamping the first floor so to become more attractive to potential tenants to enable a higher rental value.
Suzanna Adcock, surveyor at NG, said:
“As soon as the refurbishment was finished we put the property on the market and secured a letting on the second viewing. The property has now been let to an Apple products repair company which has relocated from a retail unit on Front Street. The company have signed 5-year lease at the asking rent.”
“This is another successful let for the NG management team and we look forward to working with our client on 19/19a High Street in the future to help him achieve a maximum return on his investment.”
Christopher Adams, the landlord, said:
“This very old property was distinctly and unattractively ‘grubby’ at first floor level and with a history of brief, unprofitable lets.
I approached NG Chartered Surveyors for their advice about letting and/or managing the property. They were of the opinion that it would be worthwhile making some renovations, which they did with great efficiency and completely transformed its desirability. And, more importantly, attracting a tenant as soon as it was advertised.”