iTAS

Since it was established in 2009, iTAS has been retained by a variety of clients ranging from professional services firms to public bodies. Here is a selection of Case Studies from those appointments.   Project Type    Relocation Client                 Action Claims & Mortgages Ltd Landlord           Bovis Completed        October 2010 Action Claims is a thriving call centre operation with 100 staff based in South Manchester. In early 2010 is decided that it needed to relocate from its existing offices in order to accommodate further expansion of its business. iTAS was appointed in April 2010 and quickly identified over 60 additional building options within a 2 mile radius of the company's existing offices. iTAS managed the search, due diligence and acquisition process throughout. The terms that were secured represent some of the most competitive achieved in the South Manchester market in 2010. The concessions and incentives that were negotiated will help minimise the tenant's long term property costs. They will also help maximise the flexibility of its lease allowing it to accommodate growth in headcount. Here's a comment from Action Claims' Managing Director, Ian Bottomley: "iTAS helped us with a major office relocation for our expanding business. They were extremely effective in dealing with potential landlords and agents and were able to negotiate significant savings on our behalf. They were very proactive and used their extensive knowledge of the industry to support and guide our business through the process, saving large amounts of management time for us in so doing. If you are looking for new business premises, iTAS are a great firm to have behind you." November 12, 2010 Project Type    Lease Renewal Client                 Irwell Valley Housing Association Landlord           Bruntwood Completed        September 2009 Irwell Valley is one of the largest Housing Associations in the North West. Their office headquarters (approx. 13,000 sq.ft.) have been based at Paragon House in Old Trafford for over 10 years. As its lease expiry drew closer the organisation needed to determine whether relocation would be a better option than renewing its lease.  iTAS used its proprietary 'Value-Matrix' model to compare the client's existing building with a shortlist of twelve alternatives drawn from over 80 available properties. Each option was inspected, costed and technically appraised. After assessing the client's requirements and the alternatives available in the market, iTAS concluded that renewal was likely to deliver a better outcome than relocation. The Client accepted the recommendations and an implementation strategy was agreed. The negotiations with the existing landlord (Bruntwood) resulted in a new lease being signed at an extremely competitive headline rent. Some significant financial incentives were also secured. In addition, a number of other concessions were negotiated including enhanced lease flexibility, landlord funded improvements to common areas and some additional disabled car parking. Here's a comment from Irwell Valley's Assistant Chief Executive, Neil Baumber: "Martyn and his team produced an outstanding result for us. We were thoroughly impressed with the professionalism and attention to detail that iTAS exhibited and would have no hesitation in recommending them to any organisation facing similar decisions." September 2009 Project Type    Lease Renewal Client                 Singleton Clamp & Partners Landlord           Wrather & Co Completed        April 2010 Singleton Clamp and Partners are a Transport Planning consultancy. They had been based at 2 Mount Street opposite Manchester Town Hall for 10 years and were nearing the end of their lease. Their Landlord had already presented the terms of their lease renewal and indicated that they were non negotiable. The new lease was to be based largely on their existing contract albeit, at a slightly higher rent. In return they would be granted a rent free period. iTAS was appointed to assess the merits of a relocation and to either acquire new premises or conclude the lease renewal. Having identified over 30 viable relocation options around a dozen properties were shortlisted and physically inspected. A tender process resulted in competitive bids being presented on a final shortlist of 6 properties. These were analysed in terms of their Total Occupation Costs and compared to the lease renewal proposal. iTAS then used its proprietary 'Value-Matrix' model to help the client decide whether relocation would be preferred. The client opted for the lease renewal option. iTAS used the leverage that had been generated by the search process to re-negotiate the terms of the lease renewal. The result was a lower rent, a doubling of the rent free incentive, some landlord funded improvements to common areas and a more tenant friendly lease. The client's feedback was as follows: "The advice of an experienced professional was invaluable to us in considering the options of remaining in our established office or seeking alternative locations from which to carry out our business.  In the depths of the recession there was the potential for a regrettable decision to be made, but with clear advice from ITAS the decision became more straight forward.  With improved terms in our lease we have been able to fully re-carpet and redecorate our offices which has contributed to bring about a new 'lease of life' for our business." David Roberts, Director, Singleton Clamp & Partners, December 2010.