Chessington Typhoon is a 23,000 sq ft mixed-use office and industrial business centre in Chessington Industrial Estate. Lateral acquired the 1970’s built property to capitalise on the growth in the industrial market. The existing building was well let to multiple tenants on low rents with leases running for up to seven years. Following a detailed feasibility study for a comprehensive development of contemporary terraced warehouses, Lateral was able to negotiate with the various tenants to vary leases to allow for a two year vacant possession block date for redevelopment. The redevelopment potential of the site coupled with the shorter leases enabled the sale of the opportunity to Columbia Threadneedle at a price representing the highest per acre rate achieved in the location and a doubling of the original acquisition price. Completed
Trinity House, Oxford Situated in Oxford Business Park, an area earmarked for intensification, modernisation and regeneration for employment purposes, Lateral worked with Perkins & Will to replace the existing 26,000 sq ft office with over 140,000 sq ft of dedicate life science space incorporating dry and non-dry laboratory space with dedicated clean room and GMP manufacturing capability. Lateral worked closely with Carter Jonas to sell the asset off-market to Breakthrough, a JV between Tishman Speyer and BellCo, representing the $1bn fund’s first acquisition in the UK. The sale set a record land price in Oxford and was close to the record for commercial land outside of London. Complete
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