Real estate agency Regional REIT are very happy to declare the advancements that they have made with succeeding to fully accommodate all spaces at their 9 Portland Street site in Manchester, a considerable achievement for the year that demonstrates that hard work, commitment and financial investment does indeed pay off for some in the end. Yet this is not the only thing worth for the company to celebrate. Indeed, it has also seen its successes repeated and re-evoked in the area of the Thames Trading Estate, which was a site dating from the industrial era of the 1980s that the company worked on to improve its 31,000 square feet of space.
When it was first purchased by Regional REIT back in the summer of 2014 in August, the amount of occupants in the building totaled only a little over 50 per cent and the overall net rental revenue was a meager £76,350 per annum sum. However, various developments by Regional REIT onto the property helped to ensure that the building was able to increase its appeal to various other clients who would want to use its space.
Regional REIT committed to this project by devoting no less than £165,000 towards improving the conditions and value of the building itself. Thanks to this, the Thames Trading Estate is now almost fully occupied in all its spaces and its rental income has risen astronomically to a grand total of £162,000 give or take per annum. The fact that there only remains a 2,147 square feet left for a client to rent now is a testament to the successful measures that Regional REIT took throughout the year before to increase the worth and conditions of the trading estate. As the Asset Manager Stephen Inglis of Regional REIT proclaims, this successes do not appear out of the blue and are evidence of the companies strong asset maintenance skills which other companies perhaps ought to use as an example in order to manage their own affairs.