Successful Office Sale – The Chromazone Building, Team Valley, Gateshead

Overview

We were instructed to dispose of The Chromazone Buidling, a self-contained office with a prominent position on Team Valley which was offered with full vacant possession.

The property extended to approximately 4,232 sq ft over two floors and included an attractive glazed façade, a creative specification and 10 dedicated car parking spaces. Having become surplus to the client’s operational requirements, the building was vacant at the point of instruction.

Our brief was to secure a strong capital outcome while minimising holding costs and delivering a timely completion.

Client Requirements

Our client’s objectives were:

• Achieve best value on a vacant possession basis

• Generate competitive interest

• Maintain momentum to reduce ongoing holding costs

• Deliver a secure and efficient transaction

As a vacant building, the asset presented both opportunity and risk. While offering flexibility for purchasers, prolonged marketing would expose the client to ongoing business rates and maintenance liabilities. A carefully structured strategy was therefore essential.

Our Solution

Strategic Positioning

We undertook a detailed review of:

• Comparable freehold and long leasehold transactions

• Current occupational demand in the local market

• Competing available stock

We positioned the building to appeal to:

• Owner-occupiers seeking cost certainty and long-term control

• Value-add investors targeting refurbishment and re-letting

• Alternative-use buyers (where appropriate, subject to planning)

A competitive quoting price of £425,000 was recommended.

Proactive Marketing Campaign

To maximise exposure and drive momentum, we implemented:

• High-quality sales particulars, highlight the properties key features and specification

• Online promotion across major commercial property platforms

• Active follow-up of all enquiries to convert interest into viewings

• Social media strategies to include Linked In posts to highlight instructions

Negotiation & Transaction

Following a structured process, we secured a strong purchaser with proven funding capabilities and managed the legal due diligence closest to avoid any delays. Throughout the whole process we maintained regular communication between all parties to ensure momentum.

The Results

Our strategy delivered a strong outcome:

• Sale agreed within 8 weeks of instructions

• Achieved a price within our recommended range to the client

• Reduced holding cost exposure

• Smooth completion process

The transaction enabled the client to release capital promptly while removing ongoing liability associated with a vacant asset.

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