Acting on behalf of CRT Property Investments Ltd, the wholly owned subsidiary of the Coalfields Regeneration Trust, specialist real estate asset management company, Blue Marble Asset Management (Blue Marble) has secured a new lease with the existing tenant of a Rotherham office suite.
The un-named tenant took a new five year lease on a 5,150 sq ft office unit at Unit 3b, Phoenix Riverside, Rotherham, S60 1EN, less than two months after CRT Property Investments Ltd acquired the fully let, 18,856 sq ft, multi-let office building for £1.5 million, with the assistance of Blue Marble in May 2018.
Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien, says: “We’re extremely pleased to have signed a new lease with the existing tenant and look forward to working with them over the next five years. Their office is in a fantastic building with good access to the nearby national motorway network. It is easy to see why they have chosen to stay here.
“We would like to thank Blue Marble for their great work. As always it has been a pleasure working with the team.”
Amy Haywood, Senior Property and Asset Manager at Blue Marble, says: “We worked extremely quickly to successfully renew the lease with the current tenant. This move was part of our strategy for this investment when we first advised CRT Property Investments Ltd on the purchase. We deliver added value to meet our clients’ investment objectives by pro-active asset management to a pre-agreed strategy.”
The Coalfields Regeneration Trust has shared plans for a £40m Coalfield Investment Proposition which would see government provide £30m and the organisation contribute £10m of its own resources. The fund would be used to develop new industrial space to support SME growth in former mining areas and on completion bring an estimated 1,000 jobs to the coalfields over the next five years.
As a result of these developments, over a 25-year period, the Coalfields Regeneration Trust would produce £50m in sustainable income which will be used to support social impact projects creating a wellbeing value of over £500m in the communities and a lasting legacy for the next generation.
An annual income stream of £2m would be directed into social impact projects in the communities, typically achieving the following outcomes; 400 people will be helped back into work; 800 people supported into volunteering; 5,000 people assisted with developing new skills and 8,000 people taking part in activities that improve health.
