- Size – 23,000 sq ft
- Project type – Acquisition
- Location – Midtown
- Industry – Tech
- Year completed – 2015
- Fit-out – Oktra
Clients key concerns & challenges
- Relocate the EMEA HQ within Central London
- Analyse Central London sub markets to identify most suitable location for the business
- Due to high forecasted growth, expansion space would be required in the short term
- Following a full submarket analysis we acquired approx. 23,000 sq ft at 5 New Street Square
- Conducted a successful sublease project to let 6,500 sq ft on a short term lease to be occupied by Netsuite upon sublease expiry
Subleasing with an eye on expansion
The size of Netsuite’s new EMEA headquarters was something of an issue. The business needed to move somewhere bigger to house their growing team. But the senior management also expected the headcount to grow exponentially soon after the move.
The solution was to find an even larger office than was currently required, and sublease some of the space. We looked at all the Central London sub markets and presented Netsuite with a shortlist, from which they chose a 23,000 sq ft site at 5 New Street Square.
With the property theirs, we then helped Netsuite arrange a sublease of 6,500 sq ft to save them money in the short term, and give provide additional room going forward.