City Instructions

Tenant Advisory Group is advising ERM on a number of property issues relating to its UK and International Group headquarters in the City of London.

These issues include the potential re-gearing of ERM’s existing lease, the acquisition of additional space and an audit of its service charge accounts. TAG is also overseeing the protection of ERM’s rights of light in relation to the proposed ‘Scalpel’ office development.

As TAG founder Martyn Markland explains, “These instructions not only demonstrate the breadth and depth of our consultancy team but they also highlight the benefits of our conflict free status. ERM’s previous adviser manages their London headquarters which would have made it impossible for them to act in these capacities without conflicts of interest arising. With TAG this simply isn’t an issue which simplifies things immensely for ERM.”

ERM website: http://www.erm.com

Towns Needham Appointment

The Tenant Advisory Group has been appointed by solicitors Towns Needham LLP to conduct a search for new offices in the Manchester City Centre. Towns Needham has a break option in its lease later this year.

According to TAG’s founder Martyn Markland, Towns Needham’s requirements are common to many in the legal sector. “The critical factors are cost, space efficiency and lease flexibility. As a result, we will be examining a variety of options in the traditional CBD including space being refurbished by landlords as well as accommodation that tenants are seeking to dispose of.”

Oxford Acquisition

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.”

Just in Time Solution

The Tenant Advisory Group completed an acquisition on behalf of specialist engineering firm, Total Manufacturing (UK) Ltd, in record time.

The new start-up company needed to identify, acquire and move into its first premises within just 6 weeks in the run up to Christmas.

Total Manufacturing’s Managing Director acknowledged that the timescales were challenging, “thankfully with the co-operation of the landlord and the efforts of the TAG team, we were able to open our new facility in the nick of time”.

TAG undertook the property search, lease negotiations and building surveys for Total Manufacturing who have now moved into their new base at Hawkley Brook Trading Estate, Wigan in time to meet its first customer orders.

Total Manufacturing (UK) Ltd is a sub-contract manufacturer of specialised valve component parts used in the oil, gas and power generation industries.