Princess Alice Retail Park, Sutton Coldfield, West Midlands
Service
Acquisition and Due Diligence
Dilapidations
Tenant Alterations
Development Monitoring
Contract Administration
Reinstatement Cost Assessments
Sector
Retail & Leisure
Size/Value
129,775 sq.ft
Summary
We carried out the pre-acquisition survey of this retail park and separate health club and subsequently a second phase, built at a later date. Post-purchase, we advised the landlord upon during the preparation and negotiation of dilapidations, project monitoring of a tenant’s (Frankie & Benny’s) new build; various approvals in relation to tenant’s alterations; reinstatement and repair works to a fire damaged unit and also further modifications to existing tenanted units. We also prepared the Insurance Fire Re-instatement Cost Assessment (FRCA) for the site.
Result
Following the successful acquisition of the first phase, our client acquired a further phase, also developing a retail park restaurant. The works organised by us allowed the asset to be optimised with a greater return.
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