RENEWAL OF LEASE ON GATEWAY OFFICE BUILDING
Griffin House is the gateway office building on Phoenix Office Park in Nottingham. Developed in the mid 1990’s the park has remained popular due to its prominent location close to junction 26 M1 and accessibility by both car and NET.
The property has been occupied by E.On, a leading international utilities business, for many years, and the company also occupies and owns other building on the same estate.
As asset managers for the Trust which owns the building, Tim Harries & Partners have always maintained excellent working relationships with the tenant, and ahead of the former lease expiring in late 2016, this collaborative relationship enabled beneficial terms to be concluded with E.On to continue their occupation of the office in line with their current business model whilst maintaining rental income for the landlord at substantially the same level as achieved at the peak of the market.