Multi Let South Lakes Investment Sold

Station House on Station Road in Kendal has been acquired by clients of Peill & Company as a mixed use commercial investment, and will be subject to comprehensive refurbishment in the coming months. The building, which sold at the Allsops Auction for 1 million, comprises multi let offices with approximately 50% of the space occupied as a medical centre by Station House Surgery. Peill & Co have been instructed by the purchasers as asset managers and will also be taking on the property management of the building including rent collection, service charge and administration by their in-house property management department. In addition to this, Peill & Co's building consultancy have been approached to commence a planned maintenance programme for the building over the forthcoming year, 3 years, 5 years and 10 years. In addition to the planned maintenance programme, comprehensive refurbishment works are planned throughout the building. Stuart Tolch, Head of Building Surveying for Peill & Co, commented "We are delighted to have been instructed by the purchasers of Station House to offer a complete asset management service from rent collection and service charge administration through to building consultancy." Simon Adams, Managing Director of Peill & Co, commented "Station House is an example of a situation where we can offer a full service property consultancy covering asset management, building consultancy and agency, as we will be offering parts of the property to let in the coming years as leases expire. The fact that we can offer a full asset management service from our offices in Kendal was particularly attractive to the client, and meant they did not have to seek advice from separate companies on the overall management of the investment going forward."