Alechemy
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Alchemy, Welwyn Garden City.

The 41,000 sq ft office building was bought in the Webb portfolio with Harbert Management Corporation in 2016 and had never been let since its construction in 2006.

XLB asset managed the property so it was fully let in 18 months to four tenants and pushed the rent from £17 psf to £21 psf thanks to the letting agents: Savills, Colliers and Brasier Freeth.

The property was sold to South Somerset Council by DTRE for £9,730,000 reflecting a NIY of 7% and a WAULT of 3 years to break.