We have supported Babcock since 2006, during a period of rapid growth as they have expanded organically and through strategic acquisitions. We have completed over 400 instructions nationally for Babcock, providing them with a full range of commercial property services to help them run their portfolio more effectively.
Consolidation and relocation of Scottish HQ for Babcock Rail
The strength of Babcock Group’s covenant and space requirement meant that we were able to obtain purpose built accommodation on better than market terms.
Compulsory Purchase Land and Disturbance compensation claim negotiated
We negotiated a Compulsory Purchase Land and Disturbance compensation claim for Glasgow Salkeld St Depot (M74 Extension) to fund the business relocation cost. On existing leases, we negotiated lease exits and terminal dilapidation settlements. We undertook market searches for a 4,000 sq m office HQ facility within the Greater Glasgow area and assisted Babcock in appraising these to create a shortlist.”
Demographic impact assessment secured best location for staff
A demographic impact assessment based on Babcock Rail’s staff’s previous workplace and home address was completed, to understand the best location for the majority of staff.
A financial appraisal and modelling on the selected shortlist was produced, and we negotiated the best terms and Agreement for Lease with the developer and management of legal process through to completion.
Securing building on best market terms
Colin McGarva, Director, commented: "Given the strength of Strathclyde Partnership for Transport’s covenant, we hope to replicate our success in obtaining purpose built accommodation on better than market terms order, when re-negotiating lease terms on new properties."