9,000 sq ft relocation and early surrender of existing lease
Eden McCallum, a niche management consultancy business were situated in a large office complex in Kensington that was earmarked for prime residential redevelopment. With a lease expiry in mid 2017, C&W were instructed 3 years in advance to establish a long term property strategy for the move and exit from the existing premises. After over 12 months of negotiations an early surrender of the existing lease was completed (with a substantial premium payable) and simultaneously a new lease was signed on a Grade A office development in the West End. The structure of the transaction enabled Eden McCallum to mitigate any double overheads, lock into a “2015” rent and provide capital for the fit out.
- Identified opportunity for early termination of lease
- Negotiated back to back transaction to mitigate double overheads
They were also able to help us with presentations of options to our partners and the wider stakeholders in the decision, including producing financial models and analyses of key information for decision making. Finally, they were instrumental in helping us to secure a new lease in a highly sought-after building, using their relationships with the senior team at The Crown Estates, rather than relying on the agents, giving us an advantage when the Crown were considering competing offers for floor space.
Most importantly, James and his team kept us informed and updated at all stages of the process, which helped to relieve the stress and smoothed the way through the process to completion.”