25 March 2014

Forsters acts on major letting for Auto Trader Limited

Forsters has advised Auto Trader Limited (which operates in the UK through its flagship brand Auto Trader), in respect of the letting of 60,000 sq ft at Ask Development's Number One First Street in Manchester.

Auto Trader has taken two fifteen year leases of several floors in the newly developed Grade A BREEAM office premises at a combined annual rental of £1,364,097 exclusive.   The office building forms part of a larger cultural, leisure, retail and office development in the centre of Manchester.

"This is a significant move for Auto Trader; occupying a prime position in Central Manchester is a key part of our overall occupational strategy. The team at Forsters played a crucial part in ensuring this deal was transacted swiftly and smoothly" commented Geoff Wilson, Group Property and Facilities Manager at Auto Trader. 

Andrew Crabbie, real estate partner at Forsters added "acting for a client with the profile of Auto Trader was very significant for us and ensuring the completion of all relevant legal documentation within a tight deadline.  We were able to draw upon our wide experience of acting for major occupiers to provide comprehensive advice to Auto Trader Limited (including construction advice as to the building protections being offered by the landlord and in relation to Auto Trader's fit out)".   

Andrew Crabbie advised Auto Trader Limited, assisted by Hannah Kramer.  Forsters head of construction, Sarah Cook, assisted by VanWyck Johnson advised in relation to construction matters.

Our Insights

"They are always excellent as a firm and have consistently given us sound advice."
Chambers UK