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£15,000 saving on new office for growing company.

Tristone Capital needed a new office for the first time in five years to accommodate a growing headcount.

Location:
Manchester, UK
£15,000 saving on new office for growing company.

Based in the heart of Manchester, Tristone Capital is a privately owned investment company that acquires and grows businesses that deliver a positive social impact. They focus on investing in companies with enterprise values of up to £20m that have good market share and strong growth prospects.

Working closely with management teams and entrepreneurs in financial services and healthcare, Tristone leverages its commercial and operational expertise to help companies maximise their talents and success.

The financial aspect is handled by Tristone Capital itself, while the healthcare division focuses on buying, building, and investing in social care businesses. These businesses provide vital support and care for vulnerable children and adults who need additional help in their daily lives within a care environment.

The company had spent almost five years in the same office and in that time had grown from a team of four to a team of 11. The lease was running out and they knew it was time for a change but didn’t have a clear sense of what new options were out there in the quickly evolving Manchester office market.

They wanted to explore the possibilities and find a new workspace that excited them, as well as one which would enable their next stage of growth.

Looking for a long-term home

Tristone Capital was looking for more than an office – they were looking for a home which would accommodate them for the long term and reflect where the business was going in the future.

With a three-month notice period setting the timeline for the move, Tristone got in touch with Joe Averill and the Level team for assistance and advice. They specified a space which could accommodate their growing headcount and which had a meeting room. Other than that, they were open to suggestions, seeing different spaces and finding what worked for them organically.

Laura Green from Tristone Capital led the search, saying: “I first met Joe through a mutual contact about five years ago, though at the time, we didn’t have a need for a new office space as we had recently moved into one.

“One thing that really stood out about Joe was how consistently he made the effort to stay in touch, regularly checking in on us and building a friendship. Over the years, we got to know each other well. So, when the time came to look for new office space, I knew Joe was the right person to reach out to. If anyone could help, it was him.”

Presenting a range of options and arranging viewings

With a flexible brief in hand, Joe and the Level team quickly put together a list of 15 options which all had different features and environments so that Tristone Capital could see the full range of Manchester office spaces which are available.

Three were shortlisted and viewings were arranged quickly, all on the same day to reduce any disruption to Tristone’s day-to-day routine. Of the three, one stood out immediately.

Laura said: “The moment we stepped into Orega, we knew straight away that it was the perfect fit. The great thing about Orega is that we now have our own office and a dedicated meeting room, which we didn’t have in our last place.

“There’s also plenty of hotdesking spaces and room for our team to grow into, which made it feel even more like the right choice for our next chapter.”

The company was so impressed that they made an offer for the space the following day. Located right on Deansgate, Orega meets the needs of Tristone Capital perfectly. It’s a central spot that is modern, yet retains some of the original features of the building.

It also offers a meeting room and a variety of desk types so that employees can work how they need to and be as productive as possible.

Laura said: “Everyone is really impressed with the space, and it has given our team such a morale boost to be in a new environment. The move has been smooth sailing with no hiccups along the way.

“Since we were founded in central Manchester, it was so important for us to stay central. The office is great for transport links, and many of our team members live in the Manchester area, making it really convenient for everyone to travel.”

Successful negotiations with the landlord

Like most deals, securing the space for Tristone Capital involved negotiation with the landlord on several points. Firstly, on the specifics of the office where the company required a potentially costly video conferencing setup. Joe secured a TV at no extra charge as part of an overall package which saved Tristone a total of £15,000.

That was important as the company was taking double the amount of space than what they had previously rented, so naturally the cost would be higher. By negotiating savings elsewhere, Joe managed to make the whole deal work more favourably for the client.

Secondly, the three-month notice period on the previous office presented a possible issue. Orega would not normally hold a space this long for a client as it is a desirable office in a premium location. However, Joe used his personal relationship with the building owner to agree that the office space would be held so that the client could see out their notice period.

Laura said: “Honestly, Joe is such a great guy, he is incredibly helpful and truly listens to what you need; nothing is too much trouble for him. We even received a lovely gift basket afterwards, which was anice surprise.

“It’s such a niche business, and some people may not realise that something like LEVEL exists. I would highly recommend Joe to anyone looking for office space!”

Joe Averill, founder of Level Workspace, said: “It was a pleasure helping Tristone Capital find their first new office space in five years. The market moves quickly and we were able to advise them effectively so they could find the ideal new home.

“Even better, we managed to leverage our market knowledgeand strong relationships to secure them favourable terms and help them work round potential sticking points like their long notice period.”

Want to rent new office space in Manchester? Get in touch with our team today for expert advice and market knowledge that can save you money and help you secure the perfect workspace.

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