Property and Asset Management
2 Cornhill & 14 Woolhall Bury St Edmunds
Merrifields were appointed as letting agents by a national firm of asset managers to find tenants for the vacant parts of the building which comprises 5 shops and office space above.
The building had been starved of investment for years and tenants were disgruntled over high service charges and a faceless overseas landlord who didn’t listen. The owners decided to sell and Merrifields pitched for the business, there was much interest, but buyers were concerned over the investment needed and the vacant parts. A local investor purchased the building after hearing Merrifields strategy for manging the asset going forwards.
The strategy included investment, rebranding, a coat of paint, mending holes in the roof and generally bringing the building into the 21st Century. Common areas were refurbished in a professional contemporary style and tenants engaged with.
The investment by the client has been rewarded with new tenants and a significantly improved property with reduced running costs.
Merrifields provide Asset Management, Property Management, Service Charge Management and Agency advice to the client.