At a time when commercial property for sale is in short supply, JK Property Consultants LLP, has advised ambitious business support services provider, UMi, on the purchase of Allergate House, Belmont Business Park, Durham.
Employing over 100 staff, UMi will relocate from Spectrum Business Park, Seaham, to the 10,500 sq ft building, which provides the capacity for the company to continue to grow.
Allergate House is a standalone, two-storey office pavilion structure, located 1.8 miles from Durham city centre, with ready access to the A1(M).
JK Property Consultants LLP, which has extensive experience in areas such as investment, acquisitions, development, negotiation agreement, viability and funding and dispute resolution, negotiated the purchase.
Kevan Carrick, JK Property Consultants LLP said: “We received instructions from UMi to identify a property to purchase that would give our client an attractive facility with opportunities for adaption to help them on the path to Net Zero.
“Initially, this building was on the market to let but following an off-market negotiation, we gained vacant possession and completed the sale. The property offers many advantages to UMi, including the space to configure an office environment that meets the needs of staff in the post-pandemic world.
“While there is a healthy supply of commercial property to let, it is not often that good quality property comes up for sale. JK Property Consultants LLP is in the fortunate position of having developed a vast network of influential contacts within the North East property market and we were able to call upon this resource to identify, at an early stage, that Allergate House could be made available for sale as opposed to lease.
“We are delighted for UMi that we have made this possible for the business and that it can modify and personalise the building so as to meet its existing and future needs.”
Nicki Clark, UMi CEO, said: “UMi’s investment in our office space reflects our ethos as an employee-owned and responsible business, focussing on the long-term and creating a positive impact in the world around us. Our new space enhances our ability to deliver upon our ambitious plans to support businesses across the UK with advice, finance and wider assistance to help make doing business easier.
“We know businesses of all sizes are feeling the effects of the rising cost of trading, so at the core of our new office is a workspace for the local business community, at an affordable cost, fostering collaboration and helping our business community thrive.”
BNP Paribas represented the seller, a subsidiary of Union Property Services.