A complex string of property transactions has been successfully concluded by national commercial property consultancy Lambert Smith Hampton (LSH) following the relocation of a national energy company to new headquarters in Northampton.
LSH Northampton’s industrial team was appointed by long-standing corporate client Opus Energy to market a vacant 43,694 sq ft industrial unit in Sandfield Close, Moulton Park.
The building, which was acquired to accommodate staff car parking, was surplus to requirements following the decision to consolidate its operations in Northampton and move to the former County Council building John Dryden House, a 90,000 sq ft office that would accommodate all staff under one roof.
Ian Leather, Head of Office advisory for LSH Northampton and client director for Opus Energy, worked with the LSH industrial team who agreed a five-year letting on the Sandfield Close premises with Panther Logistics, which needed additional space to accommodate its growing logistics contracts and operations in the Midlands region.
The LSH investments team was then appointed by Opus Energy to sell the freehold investment, agreeing a sale with Pacific REIT – a multi-asset fund management group. The freehold unit was marketed at offers in excess of £2,875,999 and following a period of competitive interest was sold in excess of the asking price.
“We originally acquired the building on behalf of Opus Energy so that it could use it for extra staff car parking in Moulton Park, where the business had been based for over 10 years, but, as we were working through the estates strategy, we identified the opportunity to secure the long-term future of the business in Northampton in a single building, John Dryden House. That set in motion a different train of events,” said Ian.
Lambert Smith Hampton project management and cost consultancy team has also been managing the extensive transformation of the new headquarters, which has been renamed Opus Energy House, ensuring the new building will be a suitable home for the growing workforce at Opus.
“These transactions demonstrate that LSH provides an excellent and seamless real estate advisory, transactional and asset management service and we are very pleased to have concluded this complex transaction on behalf of Opus Energy, which is a long-standing client,” added Ian.