Grade II Listed Colwyn Chambers on York Street in Manchester.
SCP has in effect, decided to surrender its break option which means it will continue to be based at Colwyn Chambers for at least another five years.
SCP are a specialist transportation planning, highway and drainage design consultancy. TAG has acted for them in Manchester and elsewhere for several years.
TAG acquired the suite in Colwyn Chambers on behalf of SCP early in 2016. The lease incorporates a break option at the end of the fifth year (i.e. February 2021). The deadline for service of the break notice was 14 May 2020.
The current pandemic meant that SCP felt compelled to explore alternative options ahead of its break notice deadline. TAG was therefore appointed to undertake a space assessment and a property search for suitable alternatives.
Despite several attractive options being identified and SCP serving its break notice, the business decided not to move after all. In the end, the proposal submitted by its current landlord made staying put the most sensible option. The terms negotiated by TAG included significant financial and legal concessions.
If you would like advice on what your options might be as you get close to a lease expiry or break option, please contact Martyn Markland on 0161 457 1422 or email him at mm@tenantag.co.uk.