NEWS AT DEVONO

DeVono Cresa agrees occupier friendlier provisions for a client in E1

Prior to being introduced to DeVono Cresa, our clients, a technology firm, had identified their preferred office relocation option but sought professional advice on negotiating the financial and lease terms.

The relevant property, measuring 3,497 sq ft, is located on the eastern City fringes in E1 in an industrial style warehouse building in the Tech city area of central London.

Our clients were struggling to reach a satisfactory agreement with the landlord. DeVono Cresa unravelled the terms and found several areas in which they could make significant financial savings as well as far more occupier friendlier provisions.

The landlord had not mentioned that the building was in the process of being considered for redevelopment and as such, this changed the whole dynamic. DeVono Cresa negotiated an attractive penalty clause for our client if the landlord decided to exercise the break at any point, which also resulted in a significant reduction of any future dilapidations liabilities.

Further provisions were also added which resulted in additional financial savings and after a short conveyancing period, the lease was completed and our clients were able to start trading from their new premises.