Geldards’ Midlands-based Commercial Property and Corporate teams have successfully advised CRATE on its acquisition of their new space in St James Street, London, to be used as business premises for small and growing businesses and entrepreneurs. CRATE provides work and retail space for companies who would otherwise struggle to secure their own sites and promotes growth of small and local businesses in the area.
CRATE was founded in 2016 by Adam Walker, who had a vision of entrepreneurial businesses working together. Since the first site opened in Essex in 2017, CRATE have won awards for their innovation.
CRATE seeks out vacant and often barren sites and utilises it to provide work space for businesses such as IT start ups, web designers, barbers, restaurants and cafes and even more well-known businesses like Costa Coffee, with the first ever “Costa in a Crate” concept. CRATE prepares the units themselves and brings them onto the site.
The new site at St James Street is a former car park which has been unused for over three years. It will provide 28 work and retail spaces for small or growing local businesses, including a shared space for meetings. The site is due to open in June 2019 and is currently taking applications from creative, retail or food outlet businesses to occupy the spaces.
The Geldards team comprised of Peter Seary, Partner, corporate lead, David Watson, Partner and head of Commercial Property and Caroline Findlay, an Associate in the Commercial Property team. The team dealt with all corporate, commercial and property aspects of the project by CRATE.
Corporate Partner, Peter Seary, said:
“We are thrilled to have advised the CRATE in connection with the acquisition of their new site at St James Street. It’s vital that companies like CRATE are encouraging new and growing businesses to thrive and it’s fantastic to be a part of making that happen.
“We would like to thank CRATE for involving us in their acquisition and we look forward to working with them again in the future.” ”
Founder of CRATE, Adam Walker, commented:
“It’s been a pleasure working with Peter and his team. Geldards have supported us through our company formation, IP protection, fundraise and property transactions.
“We would like to thank Geldards for their hard work and look forward to working with them in the future.”
For business advice from an expert, knowledgeable, approachable solicitor, please contact a member of our Corporate team.
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