We concluded the Acquisition of three adjoining parcels of industrial land in Northam, Southampton, representing a strategically important Property Purchase by Pinhill Ltd, an associated company of Covers, the builders merchants.

Two sites were purchased on a Freehold basis and a third as a Long Leasehold site, which involved simultaneous Lease Regear negotiations, to provide a new 125 year lease term.

We provided valuation advice and successfully negotiated to secure the properties despite intense interest from competing parties.

There were a number of legal issues relating to the site to overcome, but we worked closely with our client and their solicitor to resolve these prior to completion.

Pinhill now have exciting plans to redevelop the site to provide new industrial accommodation and also to improve the access to their Covers facility directly off Empress Road.