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Jones Lang LaSalle’s Corporate Transactions division took great pleasure in assisting Penguin Books with their relocation from their building in Rosebank. One of the solutions offered by Jones Lang LaSalle is the transactional side where alternative properties are selected according to the client’s needs. Previously, Penguin Books occupied the first floor of a building in Rosebank and due to the nature of the business and the necessity to keep books on the premises, the existing property was no longer suitable” says Grant Kirchmann.
The Corporate Transactions team negotiated a lease with Growthpoint Properties on an entire building measuring 836m² in the Rosebank Office Park matching Penguin Books existing office area over two floors. As the property was currently occupied by another tenant, we successfully negotiated cancellation terms with the tenant and finalised lease terms over the new building. The owners enabled Penguin Books to move in on time and at a rental which suited Penguin Books budget. “The transaction was concluded on a very tight time line where leases needed to be concluded by the end of 2011. Fortunately, we achieved this by signing a lease on the 29th of December 2011.”
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