XPS 15 4K, performance with 3rd party Adobe Premiere Pro CC

Having bought this new 9560 (i7, 32GB ram, GTX1050) I was expecting Premiere Pro CC to fly when compared to my old ThinkPad W540. I couldn't be more wrong. 

I have updated all my drivers, run diagnositc tests and even reformated the hard drive. I have pointed Premiere Pro to my Nvidea chip. I have no other significant processes running. 

And yet when I run Premiere Pro the laptop grinds to a halt. The performance is akin to a seven year old laptop (this one is a couple of months old). Heavy lagging, program freezing, timeline jumping, can't stop clips from playing because the computer freezes up, and so on. There is little significant increases in speed when stabilising or rendering. 

Having created a project in Premiere Pro I then tried the same project on my old ThinkPad and the ThinkPad runs without an issue. 

There is clearly a problem with my new laptop but I have no idea what it is. When I contact support they just tell me they'll send someone out to reformat the hard drive or replace it. After running diagnostic tests I don't see anything wrong with the hard drive.

I am at the point of returning the laptop because I have read of other people having similar issues with the 4K XPS model, but I wondered if there is anyone out there who can help me identify what the problem is and whether it is repairable.

Thanks in advance.