DMP were initially instructed to undertake a Feasibility Study by the owner/occupier of an existing, substantial retail and office block in Hove, East Sussex. The national retailer was looking to reduce the extent of their occupancy that they had as part of a programme of rationalisation whilst maximising the lettable value.
A confidential and targeted marketing exercise was undertaken, quickly resulting in a strong interest by the leading, multiple convenience store operators. After a period of intensive negotiations, terms were finally agreed with Sainsbury's Local for the grant of a new lease on competitive terms.
Once an agreed scheme had been approved, DMP were then instructed to obtain the necessary planning consents for the sub-division works and in particular the pre-let of part of the property to the national food retailer.
The DMP Solution
DMP prepared a coordinated scheme of alteration and conversion. The existing showroom was converted into two units; one 4,500 sq ft for Sainsbury's Local & the other a 2,500 sq ft that was to be offered for letting. A new main entrance and external works were included to enhance the upper parts which were to remain as offices during the works.
The landlord works were competitively tendered and with a contractor successfully appointed.
We oversaw the extensive structural alterations and landords works in particular external fabric repairs which required to be upgraded to meet current Building Regulations.
Under the terms of the lease agreement, DMP negotiated and settled the scope of the landlords works with the incoming tenant and delivered, in accordance with contracted procedures, on completion with sucessful and timely handover.
Once Sainsbury's Local had taken occupancy, the client decided to reoccupy the second unit once again, thus the premises became a bathroom showroom.
Following the project coming to a close, the client instructed DMP to prepare options for residential conversion & extensions to the former offices to the upper parts for possible disposal.