Law firm Shoosmiths has advised Mabey Property Limited on a significant leasing transaction that will see the client's Chatham Maritime premises, Compass South, leased to office facilities provider Portal Chatham LLP for more than 15 years.
The building, one of few spaces of its size and quality available in the region, provides 32,890 sq. ft. (3,055.5 m²) of office space and 160 allocated parking spaces. It has been let to Portal and will also be occupied by Vanquis Bank. Mabey now intends to market the property for sale and is seeking offers in excess of £6 million.
Mabey Property is a UK-based commercial property investment and development company and is part of the Mabey Group of companies.
Shoosmiths real estate partner, Nathan Rees, and solicitor Nick Dalgleish advised Mabey.
Kate Beauchamp, group chief legal officer of Mabey, said: 'This was a complex deal but Shoosmiths fully understood our commercial aims and supported us throughout with superb practical and commercial legal advice. Their hard work and commitment in advising on this transaction, and the other properties within the portfolio, is greatly valued.'
Shoosmiths' Nathan Rees, said: 'It was a pleasure working with Mabey on such a significant transaction, which now enables the property to be marketed for sale, allowing the client to realise the capital value generated by its asset management initiatives.'
Shoosmiths' real estate group is one of the largest in the UK, made up of teams advising on real estate, construction, planning, property litigation, and environmental issues.
Shoosmiths' clients include commercial and residential developers, investors, retail and leisure operators, social housing bodies, major corporate occupiers, banks and other funders and a range of public sector bodies.