Newsteer supported Parfetts in acquiring a new 113,000 sq ft cash and carry depot in Southampton, a key step in the employee owned wholesaler’s national expansion.
The client’s challenge
Parfetts needed to secure the right depot in a competitive market while navigating complex negotiations and specialist due diligence under time pressure.
Our solution
Stephen Downey led Newsteer’s occupier advice, building on the team’s earlier work for Parfetts in Birmingham. The team managed the property negotiations and used its wider specialist network to support due diligence.
Beyond advice: how we added value
Parfetts’ Joint Managing Director said the specialist connections were critical to protecting the client during due diligence and that Newsteer’s judgement became increasingly valuable as negotiations intensified.
Outcomes and impact
Parfetts secured the 113,000 sq ft Southampton depot at a price the client described as strong in the prevailing market. The transaction was recognised in the CoStar Deal Awards, and Newsteer became Parfetts’ trusted adviser for wider property development needs.
