Graham + Sibbald submitted our tender application to Scottish Enterprise in early 2018 and were delighted to win the instruction to market the vacant office suites on their behalf.
Our Team launched a full marketing campaign, targeting and identifying potential tenants for the office building. The property did have a use restriction, allowing only for tenant that were in the ‘creative industry’ sector. The Agency Team also agreed the lease terms with each new tenant.
The main challenges faced included; increasing the rental level of the suites (ERV), minimising void periods and the restrictive target market.
The subjects comprised office accommodation specifically for ‘creative industries’ which limited the potential tenant pool. Following some discussion and research, our Team were able to reach out to a suitable group of potential tenants that fitted the use restriction.
Our Team successfully let all vacant units within a timely manner and by providing trusted and reliable advice to the client throughout, resulted in minimal letting voids and an increase in rental level achieved.
Having good local market knowledge and being aware of tenant demand within Dundee was key to our Team being able to identify suitable tenants, whilst being mindful of the use restriction.