A former industrial site near Wisbech has turned its fortunes around after facing a bleak future thanks to a leading property consultancy.
Fisher German was appointed to sell the former RJ Herbert Engineering site off Middle Drove in 2017 after the company went into administration and arranged a sale to MCR Property Group to buy the site.
MCR Property Group subsequently hired Fisher German to manage the site and maximise the value of the site’s buildings and assets.
And since Fisher German’s involvement, 36,500 sq ft of space on the site has been sold or leased to four new occupiers, making the warehouse commercially viable again.
Additionally, the firm’s planning team was able to secure residential permission for an old chapel on the site into a two or three-bedroom house.
Mathew Brandon, Associate at Fisher German, said: “When we were appointed to sell the site, we negotiated Herbert’s Engineering’s surrender of the lease and the re-granting of a temporary lease to OSI Limited on a reduced square footage as the company attempted to restructure.
“We then identified the units on the site that could be separated and launched a marketing campaign to sell or let the remaining industrial space.
“Three units have been sold and another leased, making four different occupiers on the site in total so far, which is a great outcome. And our planning team’s achievement of getting permission to turn the tired chapel into a new home is a great result too.
“It was a challenging site due to its remote location, but by utilising the expertise of our planning and commercial agency departments we have turned an ailing industrial site into a multi-occupied business industrial park with a bright future.”
