Rapidly expanding Manchester law firm, HRC Law LLP, have today moved into Acresfield, a refurbished Grade A office building which overlooks St Ann’s Square in the heart of Manchester City Centre.
Communal breakout areas for informal meetings and events.
HRC had set TAG a very challenging brief which included 100% growth space, a Grade A specification, high quality communal break out areas, a central location, a short term break option, minimal upfront capital costs and low annual outgoings. Set these criteria against a backdrop of a booming Manchester economy and a limited supply of Grade A office space and you can see why we were feeling slightly under pressure!
Fully fitted space with desking, file storage, power and data cabling already installed.
What we managed to find was something we often tend to focus in on when representing high growth companies namely, “tenant space”. We soon identified a suite of 4,800 sq.ft. that benefitted from an existing tenant fit-out and a lease that had just three years left unexpired.
The space featured quality meeting rooms, break out areas and extensive structured cabling. Thankfully, we were able to negotiate competitive terms for the assignment of the lease which included a significant reverse premium and the majority of office furniture.
Because the lease had been entered into in 2014, the passing rent was much lower than the rent currently being quoted by the landlord on vacant space elsewhere in the building. This added to the appeal of the property when compared to other opportunities. Also, the fact that the lease had full security of tenure protection means HRC should have the option of renewing it in three years' time, if they wish to.
High quality meeting rooms including furniture and audio visual equipment.
According to Helen Marsh of HRC Law, TAG managed to find an ideal solution to what was a challenging brief; “we needed a larger and more attractive working environment but as a growing business we also needed to manage our costs carefully. The solution that TAG has secured for us is exceptional on all fronts and allows us to grow in a sustainable way for the benefit of our staff and clients. The overall result has exceeded our expectations and we look forward to setting TAG another re-negotiation or relocation challenge in a few years’ time!”