The Tenant Advisory Group (‘TAG’) has completed an acquisition and lease re-gear on behalf of Environmental Resources Management Ltd (‘ERM’) at an office development in Botley, near Oxford.
Wallbrook Court was developed in the late eighties as a low density courtyard office scheme. Its’ original tenants included Aviva and Lloyds TSB. ERM already held a lease on Eaton House but needed more space. TAG negotiated a re-gearing of the existing lease with the landlord as well as the acquisition of a neighbouring building known as Begbroke House which was let to Aviva.
Commenting on the transaction, TAG’s founder Martyn Markland explained what the deal means to ERM, “the re-gear and expansion allowed a number of occupation issues to be addressed including the much needed refurbishment of both buildings and the acquisition of pre-emption rights over other parts of the development. These will help to safeguard the investment that both ERM and its landlord are making in the property.”