Project Profiles

Charringtons House, Bishop's Stortford

A 40,000 sq. ft. office investment acquired for active management/redevelopment. Immediately on acquiring the investment, Danescroft entered into an innovative arrangement to take back the occupational headlease from Charringtons Fuels Limited in return for the freehold interest in another office building in St. Ives, occupied by a subsidiary company.Detailed refurbishment proposals were prepared and a new letting achieved to EMX Co. The resultant investment was then sold on to a private property company, together with the St. Ives office property. Danescroft achieved a substantial trading profit and Charringtons were released from an onerous and expensive lease.