This property was occupied by Walter smith Butchers and Cooke Rudling was initially instructed to provide valuation advice to the owner, a relative of the founder of Walter Smith.
Recognising the potential for a huge increase in rent on review Cooke Rudling was immediately instructed to manage the property and to deal with the forthcoming rent review.
The tenant went into administration before the opportunity to increase the rent from £9000 per annum arose. Cooke Rudling is active in the unique market in this part of Handsworth and following extensive marketing a new letting to Harvey and Thompson, the UKs largest retail pawnbroker was agreed at a rent of £25,000 per annum.
The tenants spent almost £200,000 on improvements and the owner achieved a substation increase in both rent and capital value.
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