Primmer Old B.A.S facilitated the execution of numerous simultaneous leases
Primmer Old B.A.S have facilitated the execution of numerous simultaneous leases to achieve full occupancy within South Point, a modern business estate located on Ensign Way, Hamble, Hampshire.
Originally unit 11 & 14 on the Estate became available to let. Not soon after, the occupier of Unit 12 & 13 outlined a desire to down size to a single unit, although had 5 years remaining on their lease. Having undertaken a comprehensive marketing campaign Primmer Old B.A.S introduced Nipro Diagnostics Ltd, a market leader in treatment for diabetics. Through careful planning Primmer Old B.A.S were able to create and implement a plan to meet the objectives of all parties involved, as listed below:-
Unit 12,13 & 14 - Agreement of Terms with Nipro Diagnostics Ltd in respect of new lease
Unit 12 & 13 - Agreement with PCE for Surrender of Lease including Terminal Dilapidations
Unit 11 - Grant of new lease to PCE (plus simultaneous grant of sub-lease if part to relocate sub-tenant) with one week window to complete fit out works and Dilapidation works in Unit 12 & 13
Unit 12,13 & 14 - Approval of Nipro Diagnositic Ltd Schedule of Condition following completion of PCE Dilapidations.
Unit 12 & 13 - Execution of surrender of PCE lease for Unit 12 & 13
Unit 12, 13 & 14 - Simultaneous grant of new lease to Nipro Diagnostics Ltd
Technical knowledge was paramount to create an implementable plan.
Pre-planning was necessary to ensure swift delivery.
Regular cross party communication was essential to align expectations and reduce the chance of abortive transaction