Conovan “courts” My Accountancy

Cloud based accountancy firm My Accountancy Place have agreed terms on the ground floor of Conovan Court, 12-14 Blackfriars Street, Manchester.

Advised by Tenant Advisory Group, the rapidly expanding firm will be moving into its newly refurbished suite in late November. Conovan Court is home to a number of TMT (Technology, Media & Telecommunications) businesses who value its architectural character and proximity to the city’s major transport and retail amenities. The suite has a number of interesting features including a ‘Juliet balcony’ and some strikingly tall double doors that lead into a staff break out area.

Commenting on the move Martyn Markland of Tenant Advisory Group said, “My Accountancy has grown significantly over the last 18 months and they needed more space. Conovan Court provides its staff with a unique working environment that reflects its focus on the TMT sector.” The landlord of Conovan Court was represented by Mike Fisk of Fisk & Co.

M&A due diligence

Tenant Advisory Group has been appointed to undertake highly confidential due diligence on a UK wide office portfolio.

Tenant Advisory Group will be required to inspect the properties and assess the tenant’s re-instatement and dilapidations liabilities at lease expiry. This will enable the client to reflect the contingent liabilities of the business in its acquisition bid. TAG will carry out the inspections and report back within 2 weeks.

TAG’s founder Martyn Markland commented, “This type of assignment is where our unique freedom from conflict of interest comes into its own. Also, our ability to respond to challenging timelines at a fraction of the cost of the traditional firms, makes us particularly effective in providing pre-acquisition due diligence support.”

For further information on TAG’s due diligence capabilities please contact Martyn Markland on 0161 457 1422 or e-mail mm@tenantag.co.uk.

CrimeLine Appointment

Tenant Advisory Group has been appointed by CrimeLine Training Limited to assess its dilapidations liabilities following a recent office relocation.

CrimeLine began life as an internal updating email in 2001. As word spread the reader list grew and CrimeLine quickly became synonymous with the production of speedy, accurate and relevant legal updates. Training courses and consultancy followed, as did a Lawyer of the Year Award for its creator, Andrew Keogh.The business grew from being a small niche provider of training to one of the largest training and knowledge providers for lawyers in the UK.

Space Exchange

Tenant Advisory Group has successfully concluded a partial surrender and lease re-gear on behalf of Environmental Management Resources (‘ERM’) at Building 5, Exchange Quay, Media City.

ERM has occupied the eleventh floor within Building 5 for the last 8 years. However, changes in technology and work styles meant the business needed to re-assess its space and location needs.

Tenant Advisory Group helped ERM assess its options both in the immediate and medium term. After extensive negotiations with ERM’s existing landlord, a partial surrender and re-gear of its lease was agreed. The transaction completed on 13th August 2015.

Commenting on the transaction, Martyn Markland of TAG said “This outcome shows how landlords and tenants can work together for mutual benefit. On the one hand, ERM is reducing its’ occupation costs over the term of the lease and on the other, the Landlord is retaining a tenant with a strong balance sheet for an additional 5 years beyond the current lease expiry date.”

Matthews & Goodman acted on behalf of the property’s asset managers, Hunter Real Estate Investment Management.