Tenant Advisory Group has successfully completed a lease re-gear at Eden Point, Cheadle Hulme on behalf of Action 365 Limited.
TAG originally acquired the top two floors of Eden Point (approx. 12,500 sq.ft.) for Action 365 back in September 2010. The ten year lease that TAG negotiated included a tenant only break option at the end of the fifth year.
As Martyn Markland of TAG explains, “the break option provided an opportunity for Action 365 to review its property requirements alongside its other holdings and alternatives available elsewhere in the market. In the end, the business decided to remain at Eden Point albeit with a slightly reduced floor area. The terms we agreed with the landlord (Bovis Homes Limited) included a variety of concessions which have significantly reduced Action 365’s overheads and helped minimise any disruption to the business.”
Bovis Homes Limited were represented by DTZ.