Hurst Close, Christchurch, Dorset

Site background

We introduced the site to one of our clients, a private asset management investor who saw its potential and decided to acquire it from Sovereign Housing in March 2021.

When we took over management of the site there no tenants present at any of the garages, many of the lock-ups were damaged with broken doors, and crumbling asbestos ceilings. There were also problems with fly tipping on the site while disused.

We planned a complete refurbishment of the site in order to make the area secure and appealing to new tenants:

Installing standard 4-point locking doors on all garages
Safe removal of asbestos ceiling by licensed contractors
New high quality roofing, guttering, and fascias
Secure locking gate perimeter fencing installed
Full clearing and cleaning of the entire site

Within a matter of weeks the derelict and neglected site was transformed into an appealing storage location ready to be marketed to tenants.

Site outcome

We advertised the location locally and quickly achieved 100% occupancy, with many more tenants being added to the waiting list continuously. Should any existing tenants wish to move on we will be able to retain full occupancy and protect the clients revenue stream for the foreseeable future.

Before the renovation at the site the area was unappealing, both to local residents and prospective tenants. Due to the extensive works carried out the nearby residents are now much happier that was once an eyesore has been tidied and provides function to locals.

This investment in the site has increased its potential sale value greatly, and also achieved a substantial rental income of over £35,000 per year, with this likely to increase year on year with regular rent reviews.