Project summary
- The Client approached us in relation to a holding that formed part of their Estate. The holding, Moor Farm, required major investment in order to add to the diversity of its business enterprises
Solution
- We advised that the farm be advertised on the open market as a long-term letting, open to a wide variety of uses.
- There were a number of offers all innovative ideas with the preference for long-term letting.
- The successful candidate had the concept of a dog hotel, The Pawfect Retreat”, the Client was impressed with the tender and offered a 20-year lease with the right to extend for a further 20 years if the tenant proves to be successful.
Benefits
- A long-term lease will provide security over the property for the Client, with reliability of having a definite income from the tenancy, potentially for the next 40 years.
- The tenant has invested £1 million in improving the site including the removal of asbestos. This will have added significant value to the site and increased the income potential
- This specific diversification will provide local employment in the area which will improve the reputation of the Estate
- The overall diversification has ensured the Client an alternative source of income, therefore reducing the business risk
