Acting for our client, Usborne Publishing Limited (the largest independent children's publisher in the UK),
Newton Perkins was tasked with a very specific mandate to secure a c.25,000 sq ft self-contained building for their own occupation.
Having been based in Farringdon and, therefore, used to a busy and vibrant neighbourhood, the location parameters were also very specific – focussing only on creative City Fringe areas.
Newton Perkins introduced several on and off-market properties within days of receiving instructions, including 1 Frying Pan Alley, which had already been marketed for over a month and had garnered significant interest.
Following two very last minute viewings, we successfully managed to register our Client’s late interest in time to comply with a call for best bids.
With the Client having no prior experience in acquiring commercial office premises, we supported and advised them through every step of this process and managed to secure the premises after two rounds of bidding, despite ten competing offers and no purchasing record.
We then managed to turn around a survey, using our in-house building consultancy service, within two days and were able to exchange contracts on the purchase within a week of agreeing terms.
Newton Perkins successfully challenged the occupied rate charge at their offices at Frying Pan Alley, EC2.Providing evidence to support the claim for an unoccupied charge, Newton Perkins were able to have the rate charge amended saving the client an estimated £82,000 over the 2019/20 rate year.