Pantiles Chambers, Royal Tunbridge Wells sold
GKRE acts on sale of the Pantiles Chambers business centre in Royal Tunbridge Wells to Inigo Business Centres
Flexible workspace specialist GKRE has advised the shareholders of Pantiles Chambers Ltd, owner of the Pantiles Chambers Business Centre, on the sale of the company to Inigo Business Centres for an undisclosed sum.
Originally part of the Top Centre portfolio, the Pantiles Chambers business centre in Royal Tunbridge Wells is a thriving centre that has been owned and run by the Record family for the past 25 years. The remainder of the Top Centre portfolio was acquired by Citibase in 2005 in a transaction also advised by Douglas Green.
Douglas Green, a director of GKRE, said: “It was a pleasure working with Fleur Record on the sale of Pantiles Chambers to Inigo. I have acted for with the family over the last 18 years and we have been advising on the business and her exit plans for the last 10 years. This is also our second transaction with Inigo and Giles Curtis, its MD and now Chairman, following my acting for them on the acquisition of Castle Hill House in Windsor in 2003, which in fact was my very first business centre deal.”
Tammi Pearson-Bish, Inigo Managing Director said: “We are delighted to have acquired the Pantiles Chambers Business Centre and look forward to it forming an important component of the Inigo serviced office operation.”
Located in a mixed office and retail parade in the exclusive area of The Pantiles at the centre of Royal Tunbridge Wells, Pantiles Chambers is an established business with a track record of high quality service. Following a recent refurbishment, the centre provides both virtual and conferencing facilities with a low density 72 workstations and is currently one of the few operations in the town. Occupancy rates have been consistently excellent.
This acquisition brings the total number of Inigo locations across the UK to nine. The style and location of the centre are a perfect fit with Inigo’s format.
GKRE represented the shareholders of Pantiles Chambers Ltd, while Inigo was un- represented.
About GKRE: GKRE is the UK’s leading specialist flexible workspace agency. Founded in 2013, the directors bring to GKRE more than 25 years’ experience in the flexible workspace industry between them. Clients include operators and landlords across the UK, from major PLCs to independent companies. GKRE has recently been involved in the merger and acquisition of businesses worth over £40m, comprising more than 360,000 square feet in some 50 buildings. The agency has acquired in excess of 450,000 square feet across the UK for 15 different operators. GKRE advises landlords and building owners throughout the UK on their flexible workspace options and opportunities to partner with flexible workspace providers.