Fishron Securities Ltd, a joint venture between T A Fisher and Lamron Estates Ltd, advised by Curchod & Co, has completed the purchase of Lion Court, a nine-acre site in Bordon, Hampshire, and, in a simultaneous transaction, has let the vacant accommodation to locally based firm, Richers & Vision.
The site includes 26,000 sq ft of industrial and warehouse accommodation, laboratories and office space which had been vacated following the relocation of the German pharmaceutical company Fresenius Kabi.
Richers & Vision, a returns management business, currently based on Enterprise Park in Bordon, refurbishes customer-returned products to ‘as new’ or graded condition, making them ready for resale. Since it was established in 2010, Richers & Vision has refurbished more than 3,500,000 individual products which might otherwise have ended in landfill. The property has been taken on a new 10 year lease at an annual rent of £275,000.
John Fisher, of Fishron Securities, said: “Bordon has seen massive inward investment over the last few years and has been transformed into a thriving new community with considerable residential and commercial development. This has resulted in pent -up demand for commercial space. Richers & Vision is part of the success story of Bordon, and we are delighted to have secured this off market transaction and to have tied up a pre-let concurrently with acquiring the site.”
Nick Reeve, a partner of Curchod & Co in Farnham, said: “With offices in Dubai and Korea, Richers & Vision is a growing international business that has outgrown its existing facility at Enterprise Park. The purchase of Lion Court by Fishron Securities presented the opportunity to negotiate a seamless deal and secure a rapid letting to make the property an income-producing asset rapidly after its purchase.”
Daniel Omari MD of Richers & Vision added, “We are one of the world’s leading returns management and recycling companies, and required additional space in the local area that would allow us to retain existing staff and expand our team so that we can inspect, grade, repair returned products so that they can be resold, helping our customers to reduce potential losses and recover valuable assets.”