A lease to Lane Clark Peacock was expiring at their regional HQ on 15/02/2019
They advised that the building was now too small and that they would be moving.
Working with Bankfoot Devlopments PAM proposed a plan that added c10,000 sq ft.
An Agreement for Lease was completed and work commenced on site November 2018 with the tenants planned to return to site November 2019.
This provided the client with a development profit of c.£1,117m or 9.8% and as importantly secured a lease of 15 years with a great covenant in a strong regional location. The fund held the investment.