Marchmont score a hat-trick and conclude intensive asset management strategy in Durham

July 2024

Marchmont are thrilled to have concluded a trio of asset management initiatives across its three-unit scheme at North Point, Belmont Industrial Estate in Durham, totalling approx. 50,000 sq. ft.

Over the past 9 months, Marchmont have:

  • Delivered a full refurbishment of Units 1 and 2, comprising a comprehensive set of improvement works to both fabric and M&E areas, together with the implementation of additional sustainability measures such as LED lighting throughout, electrification of M&E and installation of new EV charging points.
  • Completed two new lettings across Units 1 and 2 on 10-year leases at record rents for the estate.
  • Completed a lease renewal with the existing occupier at Unit 3 for a further ten years.
  • Successfully completed the acquisition of the freehold of Unit 1, having previously held the unit under a particularly restrictive long leasehold.

Thank you to the various consultants and agency teams that have advised Marchmont at various stages throughout. Ben Wilson, Mark Greener and Scott Clarke within the Building Consultancy Team, our leasing agents Duncan Christie and Mark Proudlock and finally our legal advisors Joshua Mundy, Katie Lewis and Rachel Owen.