“Martin is well known in the Scottish property market, with a well-earned reputation for delivering results. He has a very hands-on style, acting as both leader and motivator, which makes transactions progress quickly and efficiently. The deals I have worked on with Martin have been smooth, making him a worthwhile person to have on board.”
Craig Watson, Letting Agent
Jones Lang LaSalle
Edgar Property Solutions secured new lettings at the Pyramids Business Park in West Lothian for Henderson Global Investors, which greatly assisted in a long-awaited sale of the property.
Challenges
Pyramids Business Park is a 370,000 sq ft office and distribution complex on the outskirts of Bathgate, West Lothian. The Fund needed to reduce the 70% rental void and non-recoverable liabilities to improve the marketability of this investment which they had been trying, unsuccessfully, to sell for over a year.
Solutions
On being appointed as asset manager, Edgar Property Solutions quickly secured two new lettings, totalling 73,450 sq ft and reducing the rental void by 20%. In addition to the extra rental income, the lettings provided the Fund with annual savings in excess of £230,000 in non-recoverable liabilities. I also secured a short term let on 110,000 sq ft of distribution space. As a result of my initiatives, the Fund was able to sell Pyramids as part of a UK wide property portfolio. I have since been retained to continue my asset management role for the new owner Mountgrange.
Extra Mile
Working hard to reinvigorate the letting agents, I also built a strong working relationship with the onsite Facilities Manager to deliver an outstanding service to existing occupiers.
