P3 solves Knutsford conundrum
Acting for private investor clients, P3 Property Consultants has completed a complicated off-market letting to a medical communications business in Knutsford.
Fishawack Communications agreed to take a new five-year lease on the 3,200 sq ft self-contained office building at 100/102 King Street.
Fishawack was due to vacate the building in mid-summer, at the end of their sub-lease from lawyers Weightmans, who in turn had acquired a leasehold interest in the premises through their merger with Mace & Jones. P3 Property Consultants was instructed to prepare a marketing strategy to bring the building to market on expiration of the lawyers head-lease in December 2013, but discovered that although Fishawack had already begun a search for new premises, they could be persuaded to stay in the building by arranging a back-to-back early surrender of the head lease that cleared the way for negotiating a package of building adaptation works and a new lease directly with the owners.
Fishawack Communications is part of the Fishawack Group, an independent network of medical communications agencies. The group has 100 staff based at offices in Knutsford and Abingdon in the UK, as well as in the US and Switzerland.
For over 10 years, Fishawack has been partnering with global and regional pharmaceutical and biotechnology companies to develop and deliver activities such as strategic and tactical communications planning, publication planning, medical writing, external expert engagement, event management, digital solutions, stakeholder relations and professional education throughout the product life cycle.
Peter Gallagher, partner at P3, said: "This was a complicated transaction requiring careful and patient choreography of a number of separate parties in a dance of precise sequential steps. The private owners are very old clients of ours and whilst it all took some time to put together and execute, we are delighted that we have been able to achieve a very good result for them."
