Case Study - Castle Precast Limited

The Challenge

 

Castle Precast, a producer of precast concrete products for the construction industry, hired Melanie King to facilitate the purchase of a new facility. Established only in 2000, their business was expanding rapidly and had created the cash flow necessary to acquire their own building.

 

Castle Precast was leasing in Bolton, with nearly two years remaining in their lease at the time of contracting our services. These conditions encouraged us to explore not only existing facilities but also focus strongly upon design build opportunities, especially in the burgeoning Bolton industrial parks.

 

Circumstances quickly changed, however, when their landlord terminated their lease, allowing only six months for relocation. Not only was time a constraint, but so was the nature of their requirement – heavy cranes and a large outside storage component.

 

The Solution

 

Encouraging her client to expand their search to other markets in the GTA due to a lack of sale product available in Bolton, Melanie quickly toured Castle Precast through a property that met their needs in the Mississauga area and presented an offer to purchase later that same afternoon.

 

An agreement of purchase and sale was negotiated within days, with Melanie out of the country and using technology to her advantage. Once all due diligence was completed and financing was in place, Castle Precast closed on their first property.

 

The extra quarter acre of storage land plus with multiple cranes, more efficient office layout and staff welfare areas, along with their quick access to the 401 (and other 400 series highways), have all proven to be a boon in further expanding their business. At last report, Castle Precast is fully booked with work for the next two years.