Acting on behalf of HES Property Company, agents at Fisher German sold the freehold interest of Spinnaker House in the Brunswick area of the city to an unnamed property investor. The value was not disclosed but it was in excess of the £1.66m asking price.
This property was part-leased back to HE Simm & Son with the remainder of the accommodation occupied by Arthur J Gallagher Insurance. Rents range from £12.50 to £13.50 per square foot ft. It also offers 53 parking spaces.
Fisher German advised on optimal leaseback terms to maximise the achievable value. A coordinated marketing campaign, highlighting the strong ESG credentials including a 43-panel roof mounted solar array, significant interest was generated.
This led to competitive bidding resulting in a sale ahead of the asking price of £1.66m to a private property company.