Case Study - Site Finding Acquisition 2
Ref.: JH/018/7’07 Jean Howe – Partner Kirkby & Diamond
Development/ building contract clients had identified a site next to an existing industrial business for whom they had undertaken substantial extension works. The industrial business required further land upon which to expand, having failed to do a separate acquisition of a plot of land for a complete new build. The objective was therefore to acquire existing occupied industrial property to facilitate future expansion.
Inspections of the identified locations were undertaken and various search methods were adopted to identify the occupiers and owners of the properties which included freeholders and Landlords and tenants.
Subsequently meetings were held with freeholders of the properties in order to identify the value held within their property and what the client would actually have to pay to obtain the freehold interest without openly making the neighbours aware of the identity of the interested party.
Kirkby & Diamond were able to act as a separate intermediary to facilitate the acquisition of adjoining properties to the subject property without the vendors actually becoming aware of who the purchaser was and thereby protecting our acquiring client from having to pay additional sums to reflect the marriage value of the two pieces of land.