James Adams, principal associate in our commercial property team, together with Cherry Elliott, Head of Commercial Property and Rachael Hobbis, Head of Construction advised an assistive devices developer in completing a 15-year lease on a game-changing, purpose-built 30,000 sq ft distribution facility in Worcestershire.
ETAC, an established developer and provider of ergonomic assistive devices and patient handling equipment, signed the deal for the huge unit at Hartlebury Trading Estate, owned by Schroder UK Real Estate Fund. The distribution facility gives ETAC a purpose-built warehouse, office and training spaces for its team to enjoy.
The Higgs team advised on the lease and construction aspects of the deal including:
- negotiation of agreement of heads of terms;
- full property due diligence;
- negotiation and exchange of an agreement for lease conditional on planning and completion of new build works;
- negotiation of a lease and licence to alter;
- reviewing and advising on the construction package such as the adequacy of the build contract and sub-contracts, terms of the appointed consultants’ appointments and collateral warranties; and
- liaising with overseas lawyers acting for the overseas company guarantor and procuring opinion letters in favour of the landlord.
Etac has praised Higgs LLP for its support. Shawn Clarke, Managing Director of ETAC, said: “We are delighted to have completed on the lease for this facility. The Hartlebury development delivers quality and functional workspace for our people and a UK base to be proud of.”
“Higgs offered excellent advice from start to finish. We had looked at existing premises which weren’t quite right in one way or another but there were some reservations about the scale and the costs of the plans at Hartlebury Trading Estate.”
Shawn Clarke
Managing Director of ETAC
“Cherry showed belief in our project from the outset and was instrumental in earning the confidence of the board and the CEO.
“James was also really proactive and was very quick to respond to any queries that arose.
“Higgs were a joy to deal with. We will definitely be engaging the firm again for all our legal requirements.”
James said: “ETAC identified Hartlebury Trading Estate as a suitable location some time prior to getting into legals but Covid-19 caused delays. The pre-let agreement was signed in August 2021 so we were pleased to see this lease come to fruition at the end of 2022, which allows ETAC to plan for the next 15 years and beyond.”
“Built-to-suit opportunities of this nature are rare. We were able to use our legal experience across property and construction to advise the client effectively.”
“It has been a pleasure working with Shawn and the team and we look forward to supporting ETAC going forwards.”
