Cube were instructed to prepare a Feasibility Study for relocation requirements of a large packaging manufacturer. The Client's lease on a large distribution warehouse in the Midlands, is due to expire in 2018, with an earlier break. The study required an appraisal of the liabilities arising from the implementation of the lease break clause. This was alongside relocating to a new site within a 50 mile radius, needing to be built and occupied before exercising the break clause.
Building of the new facility was to be in such a manner as to provide a seamless transition from their existing facility.
It was imperative that Cube gained a detailed understanding of the Client’s business, their objectives and future occupational requirements.
Cube thoroughly investigated liabilities that would arise from the Client’s vacation of the existing site. The dilapidations and rent premiums were particularly onerous, impacting on the timing of the Client's move, which required clarity in the report.
Cube undertook an in-depth search of potential development sites, in collaboration with the Client's appointed agent, shortlisting two sites. Cube provided two selected developers with an outline brief for the operational requirements of the Client. Cube then developed a document which addressed both the technical and financial aspects of the project, presenting the Client with two sites meeting all their criteria.
The critical issue Cube needed to address was the project timescales and the requirement of a seamless transition between the old and new sites.
Key points included: planning permissions/conditions, design of the building, location/access, value and specification, obtaining two cost proposals which addressed leasehold or freehold occupancy. The programming of the move had to enable continuous production.
The comprehensive study was presented at Board level, including a Project Execution Plan for managing the existing facility and delivering the new facility.
Cube continue to work with the Client in planning phased stages, ensuring a seamless transition to the new facility which has a new build value of circa £17m, with a £12m fit-out.