Bridgwater House was acquired on behalf of a family office based in the Channel Islands by SPV Bridgewater (Jersey) Limited. The ten floor office building was partially let and SP advised upon asset management, refurbishment and letting of further floors.

SP were instructed to increase the occupancy and were given a disposal mandate on behalf of its client. The office floors had to be re-thought, reconfigured and re-presented to offer large, clear floorplates that businesses needed to thrive.

In a three-year program, occupancy was doubled by creating serviced office space and improvements. SP property management services organised these changes to the building facilities and negotiation of rent reviews that resulted in a 50% increase in rental income over the three year period. Leases of anchor tenant Paterson Zochonis Cussons’ rental was reviewed and lease extended. Bridgewater House was subsequently disposed of for £11 million at a higher than expected level of capital return based upon the increased rental and lettings achieved.