16 August 2023

A 1,724 sq ft office on a Coventry business park has been sold in a deal negotiated by our director, Jason Hercock.

Unit 9 Elm Court is part of Meriden Business Park, and was owned by local businessman, Ivan Hutchings. Ivan was introduced to Jason through a mutual contact, as Jason explains: “A couple of years ago I helped an out-of-town surveyor with some local knowledge, and they very kindly left me a positive Google review. Earlier this year, that same surveyor got back in touch to connect me with Ivan and recommend Wells McFarlane market the unit at Elm Court.

“After initial discussions with Ivan, we agreed the best course of action was to market for sale or rent and I’m pleased to say we secured two offers within a short space of time.”

Ivan continues: “We’d successfully ran our financial planning business from Elm Court until it was sold in 2017. Since then, the purchasers continued with the rent until January this year when they decided to vacate the unit. At this point, we were either looking to sell or re-rent, and after advice from Jason we decided to put it on the market. Two offers swiftly followed, and after final bids we settled on selling to another Coventry-based business.

“Jason has been extremely helpful in negotiating various legal issues to ensure the sale concluded and is also now assisting us with the dilapidations on our rental contract. Without Jason’s help, this would be an absolute nightmare. He and the Wells McFarlane team have been superb in enabling us to secure the maximum value from our investment.

The new owner of Unit 9 Elm Court is JLN Plumbing & Heating Engineers, a local company that has been growing steadily since its inception in 2007.

The firm’s director, James Lacey said: “Our business had reached a point where it had organically outgrown its existing office. We wanted to stay local to our core customer base, and when we found the premises at Elm Court, just a few miles away, it seemed the ideal solution. The new office means we will have ample space to grow and possibly recruit, especially as we undertake more heat pump installations, which is a fast-growing new market.”

Jason concluded: “This has been a very rewarding transaction. Not only has it enabled two local business owners to pursue their next steps but it has also served as a reminder of the importance of industry connections, and why being helpful is always valuable.”