Port Talbot

Executive Summary

• New Office Building
• Vacant for 5 years
• Designed for single occupation
• Subdivided floors to create 3 suites
• Achieved 3 lettings to good quality covenants
• Original Income – Nil

One Talbot Gateway is an office building constructed in 2000 on a speculative basis. It was designed for single occupation and consisted of 44,202 sq ft, arranged over ground, first and second floors. The building had remained vacant for six years following completion, with the services turned off.

Following Orbit’s appointment, the letting agents were reviewed, and a renewed marketing campaign undertaken. With no potential occupiers for the whole, the property was sub-divided into three and subsequently let on three leases to a major utility company and two NHS departments. Only 524 sq ft of lettable space were lost in the separation. The building services were overhauled and a service charge put in place to cover the running costs for the building.

Resultant Income – £447,903 per annum