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Acquiring office space: Siemens PLC

30/05/2012

Tim Powner

Siemens Plc recently instructed us to identify and agree the acquisition of 2,260 sq ft of office space in the Hartlepool area, to facilitate its operation of a multi million pound renewable energy project.

Urgent office space requirement

Siemens Plc was recently awarded a major renewable energy contract and urgently required modern office space in the Hartlepool area to help them deliver on the contract.

We were appointed to identify an appropriate property, negotiate lease terms and ensure occupation within a very tight timescale. We carried out viewings of shortlisted properties with the client, with the third floor of Maritime House, Hartlepool Marina, being the favoured option.

Negotiated sub lease to free up surplus space

The third floor had an existing tenant. However, we knew that the suite was surplus to the tenant’s requirements and we successfully negotiated a sub lease at a rental equating to £11 per sq ft.

Tim Powner, Office Agency Surveyor in our Newcastle office said: “The renewable energy project rewarded to Siemens plc is port related, so we identified suitable accommodation in close proximity to the Port of Hartlepool. We successfully located the accommodation within a very tight timescale, which was down to the team’s market insight.”

Surplus inventory completed prior to occupation

Due to the tight timescales involved, Siemens plc was not in a position to source its own fixtures and fittings. We negotiated a surplus inventory with the exiting tenant to take advantage of their modern fit out – saving our client time and money.

Siemens now occupies the premises.

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