The Levy Group / ITRA Global Secures £1.5 million ($2.4 million) of Lease Incentives for ATG Media
London, England (PRWEB) October 30, 2013 -- Martin Levy, CEO of The Levy Group / ITRA Global, has announced the completion of a landmark 13,000 sq. ft. office leasing transaction in the burgeoning Bankside district of Central London on behalf of ATG Media.
Mr. Levy advised ATG Media in the leasing of the top two floors at The Harlequin Building, 65 Southwark Street, SE1 at an average rental of £45.50 per sq. ft. (approximately $73.00 per sq. ft.) and negotiated lease concessions worth more than £1.5 million (approximately $2.4 million) including a 2-year Rent-free Period. Developed by Moorevale and Rockspring, The Harlequin Building lies on the ”Cultural Curve” of the River Thames just a two minute walk from the iconic Tate Modern.
When asked why ATG selected the Bankside area in favour of expanding within the media heartland of London’s West End, CEO, Ms. Anne Somers commented, ‘To be honest our board of directors was sceptical about moving our business south of the River. Our clients, suppliers and highly-valued staff had all grown accustomed to our pivotal location on Cambridge Circus in Theatreland. Martin, however, presented a compelling financial analysis which fully supported his original recommendation to look seriously at The Harlequin Building.”
“Uniquely, in my experience, Martin took time to walk us around the Southbank in order for us to see for ourselves how the area has attracted an eclectic mix of occupiers including several large media and tech companies, such as IPC and Zoopla. We were captivated by the selection of new buildings, vibrant lifestyle and connectivity to the City, Docklands and the West End.”
Ms. Somers continued, “The tipping point was the £350,000 ($565,000) per year savings Martin achieved in reduced rent and business rating taxation from our current location. And, from my sixth floor office, I now have a fantastic view of The Shard (Europe’s tallest building) only half a mile away and we’re paying around 30% less!”
ATG Media is a global pioneer of auction portals and live- and timed-online auctions. The company’s sites are leaders in their respective fields of fine art and antiques (the-saleroom.com), commercial auctions (i-bidder.com) and industrial auctions (BidSpotter.com and BidSpotter.co.uk).
Martin Levy is Head of Tenant Representation and Site Selection at The Levy Group / ITRA Global in London and is proud to serve as Secretary on the ITRA Global Board of Directors and on the Global Marketing Committee of one of the world’s largest real estate organisations dedicated to representing tenants, buyers and occupiers of commercial real estate. From founding of The Levy Group in 1993 to joining ITRA Global in November 2002 and the register of members of the Ethical Property Foundation in August 2012, Mr. Levy has built a world-class firm dedicated exclusively to representing occupiers of corporate business space. Clients range from privately owned, entrepreneurial businesses to charities, NGO's and trade associations and from global enterprises to Fortune 500 companies. Martin Levy is an astute, intuitive and ‘tenant-centric’ advisor to Asian Pacific, US and Canadian ventures looking to relocate to new space, restructure an existing lease or expand within their current Central London location and major regional centres throughout the UK.
For more information about The Levy Group / ITRA Global in London please call 00 44 20 7409 5213 or email mlevy(at)itraglobal.com.
For more information about ITRA Global, please feel free to visit the ITRA Global web site.
Beth Wade, ITRA Global, +1 (706) 654-3201, [email protected]
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