Shoosmiths has provided real estate advice to Third Space Group on a new lease of 46,922 sq ft at the former North London mail centre in Islington.
Third Space Group currently offer state-of-the-art training spaces and a range of specialist fitness classes at their two private members clubs in Soho and Marylebone. They plan to open a new health and fitness club in Islington Square.
The new health and fitness club will form part of a planned regeneration of the former North London Mail Centre into a residential, retail and leisure development. The site is currently under development, by Sager Group in a joint venture with private investment company Cain Hoy, and is scheduled to complete in October 2017.
The Shoosmiths team was led by real estate partner Andrew Farmery, associate Angela Mildenhall and trainee Sophie Boswell. Construction advice was given by partner Patrick Garner, who was assisted by associate Heidi Brenner.
Colin Waggett, chief executive of Third Space, commented: “This was a complex deal but Shoosmiths fully understood our commercial aims and supported us throughout with spot on practical and commercial legal advice. Their hard work and commitment in securing the site was greatly valued.”
Shoosmiths real estate partner, Andrew Farmery, said: “The redevelopment of Islington Square is an exciting project, which will benefit greatly from the addition of a high quality members health club. We are pleased to have been able to support Third Space in securing the site and wish them every success for the future.”
Shoosmiths’ real estate group is one of the largest in the UK, spread over eight offices from Scotland to the south coast of England. The group is made up of teams advising on real estate, construction, planning, property litigation, and environmental law.
Shoosmiths’ clients include commercial and residential developers, investors, retail and leisure operators, social housing bodies, major corporate occupiers, banks and other funders and a range of public sector bodies.
