Recent key projects that Jamie Green and Mike Ayton have been involved in include:
Monitise International Ltd, London
Client: Monitise International Ltd
Following a 12 month search and acquisition process, Juniper has relocated Monitise International Ltd to a new 43,000 sq ft headquarters in the City of London.
Monitise, the fast growing global leader in Mobile Money solutions turned to Juniper when it needed to expand out of serviced offices into a more permanent home. The brief to acquire a building for 350 staff was soon expanded to accommodate up to 500, with a search area from Farringdon to Aldgate.
Based in Throgmorton St, Monitise's preference was to remain in the heart of the City and after a selection process which considered upwards of 30 properties, negotiations were finally concluded on the top four floors at Standard Life's 95 Gresham St, EC2. The building is effectively a new build behind the retained Portland stone facade and a stunning new central atrium has transformed the internal layout.
"We worked closely with the project managers and space designers to ensure the offices worked for Monitise” comments Mike Ayton, “and also put the hours in with their lawyers, Decherts, to make sure the lease terms met their needs."
101 Cambridge Science Park
Client: Exemplar Properties and LaSalle Investment Management.
Situated at the gateway to the UK's premier science park, 101 is Cambridge's highest profile and top quality science/business park building. Juniper was brought in to act as joint agents with the incumbent agent, Bidwells, shortly after completion of this 80,000 sq ft new development. With lettings already in place to Philips and Citrix, the new team geared their marketing to targeting occupiers for individual floors and suites, resulting in new 10 year leases to Broadcom, further expansion for Citrix and the arrival of the first accountants on to the Science Park, Grant Thornton. In total some 34,500 sq ft. The letting programme was completed when Spiral Software leased the final top floor suite and occupiers can now take advantage of the Guided Bus network which has recently opened, connecting the Science Park to the city centre, Addenbrookes and the outlying villages along the A14.
310 Cambridge Science Park
Client: Sanofi Aventis
Jamie’s previous involvement as head of the marketing and letting team at the Science Park for Trinity College, during his time at Bidwells, combined with Mike’s previous connections with Sanofi Aventis, meant that Juniper was well placed to pitch for the disposal of Building 310. Following Sanofi’s acquisition of Genzyme, the 58,000 sq ft office and laboratory building was declared surplus to requirements. We presented jointly with the Life Sciences team at CBRE, which enabled us to demonstrate to the client a winning combination of expert local knowledge and global expertise in the pharmaceutical and bio tech sector.
A 9 month marketing campaign generated a range of interest from both laboratory and office users, but parallel discussions with the College, through Bidwells, resulted in us being able to agree terms for a surrender of our client’s lease. We were therefore able to provide Sanofi with a full release of its leasehold liability and no ongoing residual responsibility through subletting or an AGA. Trinity in turn were then able to negotiate a new lease to AstraZeneca, giving the company a short term facility to accommodate scientists ahead of the construction of its new Headquarters at the BioMedical Campus.
Cambridge Research Park
Client: Threadneedle Property Investments
A 112 acre Park with development potential for up to 600,000 sq ft. Both Mike & Jamie have provided development consultancy and sales and letting advice, initially to Segro and currently on behalf of Threadneedle for Zurich Assurance. Recent lettings have been achieved to Spicers and Limitless Mobile in Building 1000 and to HME Clear Com in Building 2000, totalling just shy of 40,000 sq ft.
Mike was also instrumental in negotiating the surrender of the Virgin Media lease on Building 9000, acting for Fraser CRE. The 65,000 sq ft building had been empty for some years and the surrender process was a clear example of Juniper’s ability to work with both tenant and landlord: to effectively broker a solution which saves the tenant ongoing occupational costs and a potential dilapidations issue, while giving the landlord early possession to embark on a major refurbishment project at a time when supply of grade A office space in Cambridge is at its lowest for many years.
Capital Park, Cambridge
Client: XLB Property
A 40 acre, 260,000 sq ft office campus, where Mike, during his time at CBRE, advised the original developers, Capital & Counties, on design, massing and specification for a range of new office buildings. Juniper was subsequently appointed by XLB Property and JP Morgan to market surplus accommodation, jointly with Bidwells and provide development, design and prelet marketing for the final 40,000 sq ft site.
The Park is now fully let and Mike negotiated a lease regear with ARM and expansion into further space in CPC1, totalling over 16,000 sq ft. Jamie has then introduced Kids Unlimited to a new prelet for a day nursery, increasing the amenity offer on the Park – and enhancing the overall income stream.
Granta Park, Cambridge
CBRE invited Juniper to pitch jointly with them to Pfizer, under their global supplier mandate, for the disposal of surplus laboratories in Cambridge. The pitch was successful and Juniper duly took on the role of instigating the marketing campaign for the subletting of 44,500 sq ft of fitted laboratories, write up space, offices and meeting rooms in the Portway Building, a 100,000 sq ft R&D facility at Granta Park, one of the key science parks within the renowned South Cambridgeshire biotech cluster. Our first task was to familiarise ourselves with the specialist nature of the labs – predominantly geared to biology applications, but also including a chemistry suite with extensive fume cupboards, and a specialist basement unit; and discuss with Pfizer what fixtures & fittings should remain to aid the marketing. The fragmented layout of the building in 3 linked wings, coupled with market demand for smaller lab suites, resulted in a series of sublettings over a 2 year period. For each sublease, we prepared a schedule of condition recording the state of repair and an inventory of fixtures & fittings. Restrictions in the head lease meant that Pfizer had to seek approval to increase the number of permitted sublettings, the headlease also gave the landlord the right to rebase the service charge apportionment and we therefore entered into a prolonged set of negotiations to vary the lease on terms that would not only be acceptable to Pfizer, but also commercially attractive to incoming occupiers.
The end result was lettings to Illumina, Inivata, Lonza and PetMedix and whilst a small amount of unfitted fallow space remains, with the clock winding down to lease expiry in 2020, the rate of disposal has exceeded Pfizer’s most optimistic expectations.
Other recent projects
418 Cambridge Science Park
Disposal of 17,000 sq ft fitted laboratories for Takeda
163 Cambridge Science Park
Investment sale of 10,000 sq ft office unit for £3.77m
Costello Medical Consulting
negotiating temporary accommodation, followed by the acquisition of 21,380 sq ft offices at 50-60 Station Road, CB1
acquisition of 16,245 sq ft offices at Maurice Wilkes Building, St John’s Innovation Park
ENVEA UK Ltd
advised on the relocation from St Ives to a 21,400 sq ft office/production unit at Swavesey
Mount Pleasant House, Cambridge
40,000 sq ft office investment acquired for Howard Osborne LLP and subsequently redeveloped for student housing
Da Vinci Building, Melbourn Science Park
41,000 sq ft office headquarters let to AstraZeneca
Compass House, Cambridge
35,000 sq ft office building sold to Anglia Ruskin University
Centre for Computing History
Pro bono work to help relocate the Centre for Computing History from Haverhill to Cambridge
Cherry Hinton Road, Cambridge
Freehold investment of 3,000 sq ft bank and office unit acquired for private investor