Partner Article

Square One Law complete acquisition for new TDRheadquarters

North East training provider, Training and Development Resource Limited has achieved one of its long term strategic objectives of owning its own training facility.

The commercial property team from Newcastle law firm, Square One Law worked with the directors of TDR and their other professional advisers, Gavin Black & Partners and Baker Tilly, to acquire a 40,000 sq ft property at the Quorum Business Park. The property is large enough to mean all the company’s training and development programmes will be delivered from one site.

TDR’s principal activities are the provision of high quality apprenticeships, workforce development and promoting engineering as an exciting career option for young people

TDR director, Ian Young, said the eight year-old building on the prestige business park will now act as the company headquarters: “The process of buying this iconic building was made so easy with the help, support and advice of our carefully selected team of professionals who worked so well together and made this journey so worthwhile for us.

“This acquisition has enabled us to achieve one of our long-term strategic objectives of owning our own training facility.”

Barney Frith, an experienced commercial property partner at Square One Law, said: “We developed an excellent working relationship with the TDR directors.

“It was not a straightforward acquisition, as consent to change of use was required from the planning authority, the freeholder and several institutional landlords. Additionally, consequential variations had to be made to the superior leases in order for the transaction to move ahead.

“Timescales were crucial and I’m pleased to say we were able to meet the deadline for our clients with some days to spare.

“It is very important on this type of deal that all the professional advisers work closely together and with the client, to help drive it through.”

TDR is now engaged in fitting out the new building in order to deliver bespoke training programmes to its partners in education and industry.

This was posted in Bdaily's Members' News section by Recognition PR Business Team .