Some of the projects in which we have been involved include the following:
- Rent review of 4,200 sq ft industrial unit in Inverness for a national double glazing company where we successfully agreed a 15% reduction in the landlord’s quoted rent.
- Rent review of 4,500 sq ft office in Inverness for a large accountancy firm where we successfully agreed a substantial reduction in the landlord’s quoted rent, leading to an annual increase of less than 2%.
- Ground rent review in Great Yarmouth over 0.4 acre industrial site for a global energy company where we successfully agreed no uplift in rent, marking a 45% reduction in the landlord’s quoted rent.
- Various ground rent reviews in Dumbarton where we have successfully agreed reductions in the landlord’s quoting rents between 10 and 20%.
- Rent review of large HQ office building in Glasgow where we successfully agreed a substantial reduction in the landlord’s quoted rent
- Rent review of 4,340 sq ft open plan floor within a refurbished Edinburgh townhouse block, with 2 car spaces included. The landlord wanted to increase the rent to £128,500 pa from its original level of £116,500 pa. After negotiation, we agreed the rent at £120,000 pa, resulting in a £42,500 saving over the 5 year rent review period. Prior to our engagement, the landlord intimated there was no scope for reduction, such that any saving was seen as a victory.
- Rent review of 7,500 sq ft, open plan, Grade A office floor in Glasgow city centre where the landlord wanted to increase the initial rent from £204,000 pa to £255,000 pa. After negotiation, we agreed the rent without conceding any uplift, saving the client £51,000 pa, or £255,000 over the 5 year rent review period.
- Rent review of 5,000 sq ft townhouse office in Edinburgh city centre where the landlord wanted to increase the rent from £99,000 pa to £118,000 pa. We subsequently agreed the review at £101,000 pa, saving the client £17,000 pa, or £85,000 over the 5 year review period.
review of 110,000 sq ft industrial building in the west of Scotland,
where the landlord wanted to increase the rent to £715,000 pa. We agreed
matters at £600,000 pa, saving £115,000 pa, or £575,000 over the 5 year
- Industrial building of c. 8,500 sq ft in Aberdeen had lease re-geared to avoid upcoming rent review at which there would have been an uplift in rent, limitation of repairing and other lease obligations in return for a 5 year extension to the duration of lease, whilst acting for international energy company
- Glasgow office lease over c. 9,000 sq ft re-geared to remove a break option, reduce repairing liability, reduce rent over remaining term of lease and agree rent free period. Acting for international energy company.
- Portfolio of 5 let office buildings in Edinburgh totalling c. 30,000 sq ft re-geared to reduce rents by over 30% in return for extended lease duration. Acting for global corporate company.
- Newcastle 8,000 sq ft city centre office lease re-geared to improve lease flexibility, extend duration, allow upgrading works and reduce annual rent by 12%. Acting for UK professional services business.
- Aberdeen 12,000 sq ft industrial sub-lease renewal/re-gear acting for national distribution company.
- Bellshill 16,000 sq ft industrial lease re-geared to extend lease term, adjust lease provisions, 20% rent reduction, 18 month rent free period acting on behalf of national printing company.
- Cumbrian industrial lease re-gear of 5,000 sq ft, along with 5,000 sq ft acquisition over a single lease to reduce rent and give rent free on original section where lease was extended and then agree co-terminus lease over adjacent building at rent less than quoting with long rent free period on behalf of national printing company.
- Staffordshire industrial building of 32,500 sq ft lease extended for 10 years, with a tenant only break at the 5th anniversary, where the final financial terms resulted in a £138,000 saving over the first 5 years of the lease, when compared with the landlord’s initial rental proposal.
industrial building of 20,000 sq ft, plus a substantial yard was
subject to outstanding rent reviews at 2016 and 2021, with a lease
expiring in 2026. The landlord wanted to increase the rent at 2016 from
£120,500 pa to £126,000 pa and was considering a further increase in
2021 when we were asked to assist. After negotiation, we agreed both
rent reviews without uplift, extended the lease for 5 years, with 12
months rent free and agreed various lease variations to the tenant’s
- Broker serviced office agreement in Belfast, negotiate new leases of c. 4,000 sq ft in both Glasgow and Edinburgh for global professional services business
- Acquisition of 2,500 sq ft office in Elgin for UK professional business
- Acquisition of 30,000 sq ft Grade A HQ office facility for Global spirits business in Glasgow
- Acquisition of 15,000 sq ft Grade A HQ office facility for UK distribution company in Glasgow
- Acquisition of 3,500 sq ft Grade A office in central London for Global marketing business.
- Acquisition of 33,500 sq ft industrial building in The Midlands for a Global energy business.
- Acquisition of 6,000 sq ft office building in Oxfordshire for UK corporate client
- Acquisition of 5,000 sq ft central Edinburgh office for Scottish financial services business
- Acquisition of 4,000 sq ft fringe of city centre office building for Scottish based, global corporate client.
- Global property advisor to international premium drinks company
- Provide advice across Europe to Global corporate on office and industrial strategy and transaction management and execution
- Provide strategic property advice to UK based corporate client in respect of a largely industrial leased premises, with some due diligence advice connected to corporate acquisitions.
WHAT OUR CLIENTS SAY
“Mark has worked with Edrington Group for nearly 20 years in which time he has provided a full range of property advice across the UK, Europe, Middle East, US and Asia. This has involved him acquiring and re-gearing leases for our various offices, managing fit outs, resolving rent reviews and generally doing everything and anything required for our leased offices. ”
Chris Hendry, Head of Indirect Procurement, Edrington Group
"Mark has supported us with managing our UK and Nordics depot and office property portfolio for circa 20 years. He has interacted seamlessly with our external legal advisers and colleagues at all levels and functions across our business to help us achieve best possible outcomes."
Louise Harrison, Head of Legal, Aggreko Europe North
“Mark helped us succeed in effecting sequential moves of offices in Glasgow, Edinburgh and Belfast; each against a background of challenging timescales, an uncertain space market and a re-defining of the office environment. His market awareness, commercially minded outlook and the ability to support across a number of specialisms undoubtedly contributed to us achieving that efficiently and importantly, whilst we maintained business as usual on behalf of our Clients.”
Scott Ewing, Regional Director, Gleeds
“We have been working with Mark for more than 20 years. During that time he has helped us negotiate initial office leases in Glasgow, Liverpool and Aberdeen, renegotiate office leases, completed rent reviews, carried out market analysis studies to assist us when looking for alternative locations, coordinated dilapidation negotiations and, also, managed a recent office refurbishment for us.”
Eddie McDermott, Finance Director, V Ships UK Ltd
“Mark has worked closely with our business for over 20 years, having been involved with everything to do with various office leases, across various locations, as we have moved through the growth and contraction phases of business cycles. We find he has been an excellent business partner and is always able to give sound advice, provide a useful sounding board as we decide how to arrange our various leases, before delivering what the business needs. ”
Al Arnot, Finance Director, Concept Systems Ltd
"We have worked with Mark for more than 5 years, since he was
introduced to us by a trusted adviser. We have multiple offices, each
with different issues and needs. Mark understands our business really
well and has the expertise and experience we need to advise us on all
aspects of our tenancies.
We regularly refer Mark to our clients."
David Smith, Managing Partner, Henderson Loggie
"We asked MAPC to assist us in moving from a 3-storey, compartmentalised office into a single open plan unit on the edge of Edinburgh city centre, with the opportunity to grow or shrink as required. Mark managed to satisfy all our objectives with finding the new office. In addition, he introduced us to a designer for our fit out and managed the whole project, which included procuring a contractor and other consultants to help design and build what we needed."
David Miller, Managing Director, Alpha Data
"I have known Mark in a professional capacity for a number of years,
most recently working with him on a complex rent review case, where he
was directly advising a corporate client.
Mark's knowledge of the commercial property market is extensive across all market sectors and I would highly recommend him for all lease advisory work, particularly rent reviews, lease renewals and lease restructuring, where you may be aiming to add value to existing properties or portfolios."
Eric Thomson, Thomson Property Consultants Limited
"I have worked with Mark for seven years; simply, I would not attempt a deal without his knowledge, insight and intelligence. Mark has your back."
Neil McCallum, Managing Director, Critiqom
"Mark has provided full occupier services to every business that I have been associated with- his ability to report efficiently on niche markets providing diligent, conscientious and professional advice in the most thorough manner, makes decision making more informed and painless. His contacts and specialist knowledge are extensive and lead to an ‘over and above’ service."
Joseph Madden, Director, PMP
"Mark has worked with CDN through several reincarnations providing advice primarily on rent reviews, but also considering potential relocation options. He has good knowledge of the property market, is technically very good, continually keeps us up to date and is a tenacious negotiator, who has always delivered good results for us. We are pleased to have him as part of our wider team and would have no hesitation in recommending him to others."
Gayle Watson, Chief Executive, Scottish Colleges.
"I have worked with Mark for a number of years, where he has acquired (sometimes substantial) offices for us, re-geared leases and undertaken rent reviews in Aberdeen, Glasgow and Newcastle. Despite various challenges arising, he has provided good advice, with good knowledge of the markets, and always been on hand to resolve problems. I have been impressed with his service getting the best deal possible, have enjoyed working with him and am happy to recommend his service to others."
Joe Hannon, Head of Real Estate Services, AMEC Foster Wheeler plc