What follows hasn’t been confirmed yet, so there’s no need to panic.
TL;DR The mill might get sold. We’re probably fine for now.
Some of you are aware that our landlady wanted to chat with me last week, we finally met up on Tuesday. The short version of the conversation is that there is a rumour (based a bit on discussions had with men in suits who were wandering around apparently surveying the building) that Urban Splash are planning/attempting to buy Wellington Mill. It’s believed that they will do nothing with it for at least 5 years should this go through.
As with the purchase of any tennanted building there is the issue of existing tenancy agreements, ours is 3 years and is a sub-let agreement (which we are around 18 months into). Our landlady however, has a direct agreement with the building owner for 10 years. There are 8 years left on it, so, even if the building does sell it is highly unlikely that we would be kicked out immediately and in fact are probably safe for the forseeable future.
This does mean however, that it would very much be worth our while looking for an ideal space. Our landlady has promised to let us know what she knows so we should get any nasty surprises, unless she does.
As and when she tells me more I will of course let everyone know.
pp HacMan Board.