TLT has advised Burrington Estates on its 10 year lease of 'The Ship'; an iconic building in Plymouth, to Sitel, an US outsourcing company. This global trade deal could create up to 700 jobs in the area.
The 5,000-square-metre £33.5 million building has three floors encased in glass walls made up of 650 panels hung on a framework of 37 steel ‘tusks’, curving in two directions to create the appearance of a ship’s hull. It was home to The Herald and the Western Morning News but has remained empty since the publishers moved in 2013.
The TLT team included development partners David Smithen and Daniel Halstead.
TLT's David Smithen said: "We worked should-to-shoulder with our client, Burrington Estates, advising them on the purchase, funding and lettings of this iconic building. Despite current uncertainties in the market, the regeneration of this landmark demonstrates that the UK continues to represent fertile ground for the well-adviser developer, investor and occupier."
Mark Edworthy, Group Managing Director, Burrington Estates: "Once again, TLT has provided invaluable expertise and advice throughout this lengthy process and we cannot thank them enough for their support and guidance."