Cole Street Studios
- Long lease acquired over an unmodernised, vacant, but well-located and attractive former spice and leather warehouse at a rent of £1 psf.
- A full refurbishment of the building was undertaken to provide self-contained offices for small to medium sized businesses.
- A 30% increase in floorspace was achieved by rationalising the original circulation system and inserting mezzanine floors within the very tall ceiling heights.
- The building was 100% let post-refurbishment at an average rent of £23psf. On a refurbishment cost of around £350,000, the project generated an un-geared IRR of around 33%.
- This project was undertaken by Mark Willmott whilst a director at his previous firm of Forge Architects and Surveyors Limited.
Images
Existing typical floor layout
After rationalisation, showing improvement in lettable area
A refurbished office with mezzanine inserted
Staircase detail
Recent Projects
Hinckley Hub
A major new development for Hinckley comprising affordable housing and a new public sector hub with Hinckley Borough Council as anchor tenant.
The Last Drop
A refurbished public house providing retail and residential accommodation with new build housing to the rear.
St Andrew's Street
An edge of town car park becomes a six-storey block of affordable housing for EMHA.
Cole Street Studios
The refurbishment and conversion of a long-leasehold period warehouse to multi-let offices.
