Acting on behalf of Wereldhave Property Management, our Lease Advisory team negotiated a lease renewal for iPSL at 100 Pavilion Drive in Northampton.
Based at Northampton Business Park, the property comprises approximately 110,000 sq ft of office and production space – one of the largest commercial properties in Northamptonshire.
Lease re-gear for iPSL
We were instructed by Wereldhave Property Management to negotiate a lease re-gear with iPSL, whose current lease was due to expire.
The property is home to their headquarters where they run a cheque clearing facility used by major high street banks, and they were keen to remain in occupation.
Multi-service advice maximises value
We entered into early dialogue with iPSL to establish their short and medium-term requirements along with those of Wereldhave Property Management – for the property and their wider portfolio.
We provided Wereldhave with lease advisory and investment advice throughout negotiations and were subsequently instructed to market the property thereby maximising investment value.
Lease renewal secured in record time
Despite the market suffering one of the deepest downturns on record we secured a new 10 year lease with a five year break. Negotiations were concluded in under three months from to fit in with the landlords timetable for disposal of the asset.