Twelve months ago DeVono Cresa were approached to provide foundation advice to one of the world’s leading philanthropic charities regarding their occupational strategy in the UK and the need to address the present and future requirements.
After an initial planning phase, DeVono Cresa spent several months exposing our client to dozens of both on and off-market opportunities. The search culminated in the approach for one of London’s best known and most iconic buildings. A period of 4 months followed, during which time a deal was negotiated and thereafter exchanged upon that delivered the central London office location and inherent value that the board demanded as a prerequisite for any move. Due to a possibility to develop the building in the future that the landlord needed to retain in the leasing structure, a particularly attractive set of terms were agreed in relation to both up-front financial outgoings, incentives, rent reviews and exit costs for our client.