Commercial property can be a bit like chess but persistence and co-operation between two landlord and several operators has resulted in 75,000 ft2 of new deals being brokered on Team Valley recently by Naylors Chartered Surveyors.

The background was that we were instructed by Tyne and Wear Economic Development Company to find a new tenant for their 1 Princes Park Unit, a 35,000 ft2 prestigious building originally developed by UK Land Estates, whilst at the other end of Princes Park we were discussing lease issues between UK Land and news wholesalers JJ Gilhespie at their 38,000 ft2 facility said Bill Naylor of Naylors Chartered Surveyors.

Into the equation came an enquiry from Leeds Surveyors Fox Lloyd Jones on behalf of CB Imports, a cash and carry chain wholesaler of florist products who viewed a number of buildings but identified Team Valley generally and the Gilhespie premises in particular as being ideal for their expansion into the North East.

Negotiations began between UK Land and Gilhespie and CB Imports to enable CB to acquire the Gilhespie building in its entirety which meant relocating two sub-tenants in the property, Team Digital Printers and distribution specialists Transpeed.

By coincidence Transpeed had also been considering moving to premises more suitable to their expanding business had and had viewed a number of possible alternatives resulting in their re-location to 1 Princes Park. Team Digital moved to a Buildings for Business unit on Stirling Court.

Keith Stewart, Naylors’ Industrial Agency Head, commented “I had been working with Transpeed over a number of months and there was a prospect that this web of transactions might have folded on more than one occasion, but persistence and a large amount of goodwill from all parties made these transactions happen. Solving complex problems aided by a close understanding of how property works created a good result all round. It certainly is one of the more complicated projects we have been involved with this year”.