Client: Gamestec Leisure
Gamestec Leisure is the leading national operator of gaming and amusement machines. It historically occupied two former brewery premises in Burton-upon-Trent, namely, The Old Granary (80,157 sq ft, including a large basement, on a site of 2.8 acres) and The Maltings (a Grade II Listed building of 90,158 sq ft, on a site of 3.3 acres).
The premises had been used as part office, storage and distribution uses, which became unsuited for Gamestec’s purposes. The former Old Granary also included a circa 500 seat cinema, which, up until the site's disposal, was regularly used. Our agency team was appointed to dispose of both sites.
Solution
The sites occupied reasonably prominent locations on Wetmore Road, to the north of Burton-upon-Trent. However, they both included two very large buildings which would be unsuited to the majority of occupiers and with the exception of the listed element, these would probably need demolishing. We subsequently formulated a disposal strategy to invite offers to be submitted on an informal basis, in order to maximise value. After negotiating best and final bids, two parties were identified as realistic purchasers.
The results
The sites were sold to two separate companies. Livingbyd’zign purchased The Old Granary for circa £900,000 and intends to comprehensively re-develop the site for a small office and business unit scheme. The Maltings was sold to Odin Estates for circa £900,000 to create a part refurbished, part new build office, warehouse and industrial development.
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