IPMS Briefings

Martyn Markland of Tenant Advisory Group is currently briefing the UK’s top law firms on the impact of the new International Property Measurement Standards (‘IPMS’) on the office sector.

The new International Property Measurement Standards came into force on 1st January 2016 and will alter how rents and service charges are calculated. They might even change the way buildings are designed in the future.

In these unique seminars designed for property lawyers, Martyn Markland reveals the full impact of the new standards and how they might influence the advice lawyers and others give to their clients.

Key Learning points:

• Learn how IPMS differs from the RICS Code of Measuring Practice (6th edition)
• Understand the impact that IPMS will have on the UK property market
• Discover how best to de-risk Heads of Terms, Leases and other agreements
• Gain awareness of relevant Case Law and Consumer Legislation

The Speaker

Martyn Markland is a Chartered Surveyor with over 25 years of experience in the commercial property sector both in the UK and overseas. In 2009, he founded the Tenant Advisory Group which is one of the only firms of Chartered Surveyors in the UK to act solely for corporate tenants.

Rapport land at The Hive

The Hive

Kitchen

Reception with hidden storage

Staff break out area

Video and tele conference pods

Tenant Advisory Group recently acquired office space at The Hive in Manchester’s Northern Quarter for the “people activation” company, Rapport Group. Their office interior was planned by workspace designers, Spacemen. We thought it worth showing you the results.

As Adrian Taylor of Spacemen explains, the brief was to create a flexible, agile space, “The idea was to provide as much variation in the way people work as possible – sitting at a desk, a high table on stools or even in the diner inspired kitchen area, especially as their team expands.”

“The palette includes materials to give a bright and airy feel with colours from the updated branding, along with a sympathetic nod to the Hive’s look and feel with concrete effect walls with deboss logos and patterns laser cut into ply.”

“The wrap feature that runs through the middle of the office is unified by Rapport’s new brand palette, houses meeting spaces, break out areas and design workshops. A fundamental part of the Rapport business is delivering events for their clients to address their workforce and so we wanted to reflect this by creating ‘stages’ along the length of the spine.”

“A secret door (a signature of Spacemen) allows access through the bookcase into a snug which can be used for conference calls. It’s been a great project with inspiring clients we love to work with, we wish them all the best in their new home.”

TAG’s founder Martyn Markland commented, “Rapport has achieved a great result by engaging specialists throughout. The building responds to their aspirations particularly in terms of sustainability, space and cost efficiency. They have achieved a relatively high density of occupation without it ever feeling cramped. There is abundant storage and a high end feel to finishes. What they have created should help the business to attract, retain and motivate the best talent whilst at the same time promoting its brand and corporate ethos to clients. I think this is an exemplar project for any aspiring SME in the TMT sector.”

The professional team responsible for this project included:

• Property Search and Acquisition – Tenant Advisory Group

• Legal Due Diligence – HRC Law LLP

• Interior Design and Space Planning – Spacemen

• Quantity Surveying and Project Control – Charter Design

• Fit out – Select Interiors

• Photography – Tom Biddle

SCP land at Colwyn Chambers

Tenant Advisory Group has completed the acquisition of the fourth floor of Colwyn Chambers on behalf of leading transport planning consultants SCP.

SCP are one of the UK’s leading independent firms of transport planning consultants. Headquartered in Manchester they also have offices in Leeds and London. They work for a variety of public and private clients on a wide range of transport related projects.

The landlord of their previous premises indicated in September 2015 that it was planning a major refurbishment of the property and that it might be willing to grant a surrender of SCP’s lease. SCP instructed TAG to conduct a search for new premises and at the same time negotiate the terms of the surrender.

As Martyn Markland of TAG explains, “the planned refurbishment of Lawrence Buildings by its new owners provided an opportunity for SCP to review its property requirements. The space we have secured for SCP is of a superior specification in a prime CBD location. It also offers plenty of room for expansion and at a highly competitive overall cost.”

David Roberts, Director of SCP, commented “having experienced the benefits that TAG can provide to tenants when we last renewed our office lease some 5 years ago, we had no hesitation in instructing Martyn Markland of TAG to negotiate the surrender of our lease and search for new premises. On both fronts we were very happy with the outcome; Martyn secured a favourable deal for us to vacate our old offices and undertook detailed investigations to provide us with a choice of suitable new premises. Once we made our choice, Martyn secured a favourable deal for us in relation to a rent free period and amendments to the lease to provide additional security for us moving forwards. After another successful outcome for our business I would have no hesitation in recommending the service of TAG to any business tenant.”

Big Bog Survey

Tenant Advisory Group was recently appointed to undertake a due diligence building survey on a modern industrial unit in Speke for craft brewer, Big Bog Brewing Company Ltd.

After some initial scepticism, Big Bog’s founder and CEO Paul Jefferies admitted that the benefits of the survey more than outweighed its cost. “I was quite sceptical about getting this done but having seen it now, I can see how powerful this document is!  Thank you for this.  I am sure this will save money in the long run and will pay for itself probably many times over.”

Tenant Advisory Group’s senior building surveyor, John Crowley undertook the survey which involved hiring high level access equipment to assess the condition of the roof and gutters. The survey revealed some fairly significant corrosion at the edges of the profile metal sheeting that forms the roof covering. As the roof forms part of the tenant’s repairing and dilapidations liabilities this discovery enabled the client’s lawyer to limit its contingent liabilities through a re-drafting of its lease.

TAG’s founder Martyn Markland commented, “The results of this survey highlight the need to carry out thorough due diligence even when there may be a temptation to cut corners or make assumptions, particularly when the property is modern or even brand new. For example, the cost of replacing a roof on Big Bog’s new unit would be more than ten or even twenty times the cost of the initial survey. This explains why we always stress to clients the importance of pre-acquisition due diligence.”