Acting on behalf of Opcare Limited, Carter Jonas were instructed to advise on disposal options for a client in respect of a lease held on a property which was surplus to requirements.
The property is situated on the established Nuffield Industrial Estate, Abingdon and comprised an industrial unit extending to 10,843 sqft.
Carter Jonas advised on the options available to the client which included to either surrender, assign or negotiate a new lease between a prospective Tenant and Landlord.
Carter Jonas launched the property to the market and were able to secure a new tenant for the unit, whilst effecting a surrender of their clients lease and meeting the objectives of all parties.
This also resulted in a higher passing rent for the landlord as the new lease was agreed at the market rent, approximately £0.50 psf higher than the previous lease.
Carter Jonas advised on the existing lease to Ability Matters and the best method of alienation and secured a new tenant for the landlord resulting in a successful lease surrender and re-grant of a new lease.