Originally our post production client was told that the property they occupied in vibrant Covent Garden was going to be converted into a residential scheme and they would need to vacate.
As they were also in a growth phase DeVono Cresa was instructed to help them find alternative premises for the company for expansion purposes.
Within the Post Production industry they provide editing suites to the film and TV industry and due to the high fit out costs associated with the installation of post-production studios, the brief discussed was to find a property that had low outgoings and could also be easily divided into numerous small studios.
After a search within Soho, Fitzrovia and Covent Garden a property was found close to Charlotte Street, London, W1. DeVono Cresa commenced negotiations and successfully agreed heads of terms.
Prior to the property officially going “under offer” our clients current landlord approached DeVono Cresa to alert us to the fact that his plans for the building had changed and that the residential scheme was about to be put on hold. He asked DeVono Cresa to explore the idea of our client remaining in situ and taking some additional space within the building to accommodate their future growth.
Negotiations commenced with the landlord and DeVono Cresa successfully negotiated the terms to allow them to stay in their existing property. It was the most cost effective option for them and they now occupy just over 5,000 square feet.