Case Studies
Stop 24
Client: Henry Boot
Instruction: In 2004 Neil Grice was asked to provide advice on a new Motorway Services station which was situated on the M20 close to Folkstone. Within the due diligence of the scheme it became clear that a new Port Waiting area was needed to satisfy the increasing demand that the Kent Ports and Eurostar terminals were being put under.
The scheme became the UK's biggest Motorway Service Station with Grice Collins Long securing tenants including Shell Filling Station Accor Hotel WHSmiths Starbucks and HMV.
Added Value: Grice collins Long provide the market knowledge that enabled Henry Boot to maximise the schemes potential and provide an essential Service Area that will become more of an asset as it matures, providing the client exceeded their original expectations of the site.
Client: Swayfields/Extra Group
Instruction:The Swayfields/Extra Group are a specialist developer and landlord of Motorway and Trunk Road Service Areas, currently operating from 10 locations throughout the UK. New motorway Service Areas are programmed for construction and opening at M40 Beaconsfield Spring this year and in 2011 at M25 Cobham.
Grice Collins Long were instructed to provide supporting advice and assistance on the marketing of the restaurant and retail units within the Food Court Amenity Buildings. Working closely with the Group’s then in-house Group Managing Director, Andrew Long Grice Collins Long were instrumental in assisting with the successful negotiation and completion of numerous restaurant and retail transactions. Such transactions were all structured on the basis of Base and Turnover Rent Leases. This has been in respect of the new Motorway Service Area developments at M40 Beaconsfield and M25 Cobham, as well as recently opened Truck Road Service Areas at Leicester and Derby, together with existing Motorway Service Areas at locations such as A1M Peterborough, A14/M11 Cambridge and A1M Baldock. Tenants involved with such transactions have included McDonald’s, KFC, Starbucks, WH Smith, GameGrid, Le Petit Four Francais and M&S Simply Food.
Added Value: Grice Collins Long were able to work closely with the Group’s in-house Senior Management Team to assist in optimising the range of tenant interest and commercial terms on which such transactions were concluded.
Client: Threadneedle
Instruction: The clients own a large office building situated above Milton Keynes Railway Station which also had a small number of secondary retail units. Grice Collins Long were asked if there were any way we could improve the retail mix.
With our knowledge of travel we were aware that not only does the Railway station benefit from 4 million passengers a year a new coach and bus terminal was to be built opposite the station providing direct links to Luton Airport.
Grice Collins Long have secured M&S Simply Foods and Costa Coffee among others and increased the base rents whilst also providing turnover top ups.
Added Value:Grice Collins Long have been able to turn around a secondary retail location into a prime travel sector location and enhance the clients holding and income for the long term.
Client: Diageo
Instruction:The team at Grice Collins Long have for the past 10 years been instructed to manage the surplus property portfolio of Diageo PLC.
This has included a wide and diverse range of properties spread throughout the UK from Aberdeen to Plymouth.
Premises have ranged from small corner shops to multi occupied office buildings.
The overall achievement and objective has been to maximise income and assist in disposals with a view to minimising outgoings at an optimum level in respect of a complex leasehold property portfolio