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JLL advised law firm Addleshaw Goddard on the acquisition of a pre-let 56,500 sq ft across two and a half floors from Argent/GMPVF on a 20-year lease (with a 15-year break option).
Addleshaw Goddard sought to relocate from Barbirolli Square, where they had been located since 1997, to a new office in the heart of Manchester and JLL identified One St Peter’s Square as the ideal match.
This transaction was complex for a number of reasons; being the pre-let of a shell finish and, therefore, the procurement of the fit-out involved a complex negotiation, including advising on the most tax-efficient solution.
In addition to negotiating appropriate incentives, a delayed completion was agreed with a lease start date of February 2017 being agreed, to avoid lengthy and expensive double overheads for our clients.