Strategic disposals and office refurbishment for MDDUS

Daniel Watney Partnership successfully managed multiple projects for the Medical and Dental Defence Union of Scotland (MDDUS), covering strategic property disposals and a major office refurbishment.

Disposal of Prime Office Assets

We advised on the disposal of two modern, fully let office buildings totaling over 46,000 sq ft.

The first, a 25,046 sq ft building leased to four tenants, was sold to a private Italian family for £30 million, achieving a net initial yield of 4.45% and capital value of £1,198 per sq ft.

The second, Bracton House, a 21,820 sq ft office and retail asset leased to Time Warner and a restaurant, was sold to a Japanese investor for £22 million, reflecting a 4.3% yield and £1,008 per sq ft capital value.

Our team led comprehensive transaction management, including tenant covenant review, lease expiry analysis, income verification, and strategic marketing, ensuring optimal value and supporting MDDUS’s portfolio strategy by delivering strong capital returns and income security.

Office Refurbishment and Project Management

Following a successful dilapidations settlement with an outgoing tenant, our Project and Building Consultancy team took the lead on a major refurbishment scheme. This included external repairs, reroofing, RAAC concrete remediation, window replacement, and a full internal CAT A+ office fit-out. Our in-house design team also procured a bespoke furniture package.

The refurbishment created modern, high-quality workspace with a distinctive industrial aesthetic, completed on time and within budget, enhancing the building’s competitiveness and appeal to contemporary occupiers.