G8 Consult advises EPIC UK on the repositioning of a management agreement to a traditional lease

G8 Consult advised EPIC UK, the owners of 9 George Square, Glasgow on the letting of three floors of the property totalling 21,684 square feet to national flex operator, The Boutique Workplace Company. This is an innovative flex deal as it involved renegotiating an existing management agreement and agreeing terms for the traditional letting of the fully fitted premises and the successful handover of a profitable contemporary flex operation.

G8’s Douglas Green says: “This is a landmark industry deal as it demonstrates the flexibility of management agreements and their ability to facilitate the transfer not only the business but also the leasing structure to a third party and enable an operator to seamlessly take over an established operating business. In my opinion, this can provide a very clear guidance on how to value a management agreement.”

Douglas Green of G8 advised EPIC UK alongside MC2 and Ryden.

The transaction was recognised by CoStar Group UK as a Q2 2024 Top Office Leasing Deal CoStar Awards winner.