Valiant Office Suites

Petersen Associates have managed Lumonics House in Rugby since 2010.  The property is a mixed use multi let property located in Rugby extending to just over 100,000 sq ft. 

In 2012 two office occupiers vacated leaving us with over 10,000 sq ft of vacant office space in difficult market condtions.  It was clear that without a positive asset management plan, the Client was going to incur significant void costs with little prospect of achieving a letting to a single occupier. 

We therefore undertook a detailed review of potential alternative uses and local market conditions to provide our Client with a detailed plan to achieve their investment objectives for the property.

It became clear that there was a shortage of high quality serviced office space in Rugby, a sector in which we have had previous experience.  We felt that the property lent itselt to this use with a layout and location that would work well for occupiers.

A detailed plan was put together with a ten year cash flow analysis which demonstrated that the project was not only viable, but offered the Client significant returns.

Petersen Associates were appointed to oversee the development of the project, which occurred in three main phases, and for the ongoing management of the serviced office facility.  Our role encompasses the employment of on site staff, lettings, day to day running of the facility, financial management and reporting.

The scheme has been extremely successful, with the project being delivered under budget at each phase, and let ahead of schedule.  Two years into the project 85% of the suites are occupied and returns are in excess of our original budget estimates.  The project is highly regarded within Rugby and our great on site team have fostered great relationships with the occupiers resulting in excellent retention levels.

Visit the Valiant Office Suites web site