commercial property lambert smith hampton

News - 19/11/2012

LSH deal hot off the press

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Leading national media agency the Press Association is making headline news faster than ever after moving its images division to a new Nottingham headquarters.

Acting on behalf of property developers and investors Development Securities Plc, we have secured a 10 year lease on 7,300 sq ft of office space on two floors at the fully-refurbished Pearl House, near Old Market Square.

Open plan environment was a key requirement

Phil Quiggin, Director in our Office Agency team said: “The Press Association was keen to upgrade the quality of its premises and an open plan environment was very important. At its previous building employees were split into four separate areas across two floors, which was causing a certain amount of disconnect between its teams.

“Development Securities Plc purchased Pearl House in 2010 and has since transformed the building, providing a new comfort cooled open plan environment. In addition, extensive work has been carried out to the reception and communal areas, which now provide one of the best quality refurbished spaces within Nottingham city centre.”

New space allows great communication

Press Association Images managing director Martin Stephens said: “I’m pleased that we were able to find space at Pearl House which is far more suited to a fast moving news gathering operation. We are delighted with the space in Pearl House. We have been able to create a bright open plan environment which allows great communication between teams.

“Even in the short time since we have moved in we have noticed an improvement in the way that information flows. As we work on breaking news stories this is a real advantage and the buzz in the office is great to hear. The building’s location right in the middle of Nottingham is great and our staff are really enjoying the easy access to cafes and shops.”

Specific client requirements met in tight timescale

The Press Association was represented by Rob Maxey at HEB. Rob added: “Our clients had a very specific requirement of what they wanted, and Pearl House certainly fitted the bill very nicely. More importantly, a tight timescale meant that a quick resolution was needed. Both the landlords and Phil at LSH adopted a refreshingly pragmatic and sensible approach to negotiations at all times, making this a pleasantly smooth and quick deal from start to finish.”

UK's leading multimedia news agency joins range of occupiers at Pearl House

Pearl House is located in the heart of Nottingham city centre - the building overlooks both Nottingham Castle and Nottingham Market Square. It benefits from excellent transport links by car, bus or tram.

It has eight storeys of office accommodation above the ground floor and retail space fronting Wheeler Gate and Friar Lane. Other occupiers include Ashton Bond Gigg solicitors, the Big Lottery, BPP and Scape System Build Ltd.

The Press Association is the UK's leading multimedia news agency and information provider and supplier of business-to-business media services. As home to the national news agency of the UK and Ireland, the Press Association proudly takes its place at the heart of the media industry providing a continuous feed of text, pictures, video and data into newsrooms around the country.

Founded in 1868, the Press Association has an unrivalled reputation for providing fast, fair and accurate news content. Alongside its core national news agency operation, the Press Association also supplies a wide range of content and editorial services ranging from international sports data, comprehensive entertainment guides and photo syndication to editorial training and weather forecasting.

Fisher Hargreaves Proctor (FHP) are acting as joint agents on Pearl House. For more information about remaining office space contact Phil Quiggin.

Pictured (from left): Phil Quiggin joins Martin Stephens, of the Press Association, and Rob Maxey, of HEB.


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