Moffet Limited has concluded a significant letting of over 42,000 sq ft at Orbis 1, Pride Park, Derby.
Orbis 1 (previously known as the ‘Egg Building’ when it was the HQ of Egg Banking) is one of the largest call-centre buildings in East Midlands. Orbis 1 is now fully occupied following the South Wing being let to a leading healthcare services provider on a new 10-year lease. The remainder of the building is let to a global outsourcing services provider.
Moffet Limited also recently let Orbis 3 (an adjacent building) to an international food and drug testing company meaning the whole estate is now fully occupied and income producing.
Moffet Limited’s asset manager, Richard Harrison at Praxis Real Estate Management Limited, said:
“We are delighted to have let the vacant space at Orbis 1 within a relatively short period of time of agreeing terms with the tenant. Recent lettings for the client on the estate demonstrates a strong demand for good quality office-space in the Derby region and we’re pleased to see our new tenants on-site and fitting out as they currently are in advance of occupation at the end of summer 2021. Hanover Law have advised on all lettings on the estate and this prior experience expedites the legal process significantly, meaning strict deal timescales were achieved.”
Mark Balmforth, solicitor and head of asset management at Hanover Law, acted on the deal and commented:
“We’re delighted to assist Moffet with yet another significant letting. This matter is proof that getting to know a property in detail from day-one pays dividends for our clients both in terms of time and cost. Our relationship with this investor has gone from strength-to-strength and we look forward to working with Moffet and its asset management team on future transactions.”
If, therefore, you find yourself in a situation where you believe the sum that you are now being charged is in excess of what is a fair and reasonable sum then it is important that you are aware of the process that you would need to follow to challenge the demands being made by your solicitors. It is also important that any challenge is done quickly as, if it is not, you may lose the right to successfully challenge the fees.