DJ Wright Dairies Ltd
Lewis' were asked to help the directors of a strong local company D J Wright Dairies to plan and source the freehold purchase of their next business property. They had outgrown their location and in order to move the business forward and allow expansion into Hampshire a significant property investment was required. Their ideal was a one acre site with plenty of onsite HGV parking and a warehouse unit with large refrigeration units and a small amount of offices.
We recommended that the directors increased their pension contributions whilst we were looking for a suitable site. This was found a year later using Lewis' strong connection with Goadsby and a purchase contract was agreed with ROK for the land, together with a build contract. These were exchanged and the land completed in March 2006 through the directors pensions, with only days to spare before the pension rules changed on A Day, which would have scuppered the purchase.
ROK then completed the build and in September 2007 DJ Wright Dairies moved into the new premises and are achieving many efficiency improvements and are still growing and thriving.
The investment in the whole project was for a sum of £1.7 million and with the directors pensions owning the property, it is great to have a friendly landlord! The rent that is paid by the company will repay the mortgage each year, leaving the directors pensions with a very healthy future income stream.
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