NEWS AT DEVONO

DeVono Cresa renegotiates lease for an existing client in Victoria, SW1

Five years ago DeVono Cresa helped this publishing client move into just over 3,000 sq ft of office space in Lower Grosvenor Place, London, SW1.

Five years on and the lease was now up for renewal. Our clients were keen to stay at the building and so asked DeVono Cresa to help them negotiate the new lease.

DeVono Cresa liaised and negotiated directly with the landlord of the building and in the process managed to reduce the annual costs, saving our client a significant amount of money. A market rent free was also agreed on the basis of a redevelopment break. We saved our client many multiples of the fee that they paid DeVono Cresa for the advice and negotiations they received. 

Certain problems had arisen with the building over the last few years and needed to be addressed. Discussions followed as how to rectify the faults in the building and we liaised with the managing agents to create a remedy program.

Our client has been at the forefront of international publishing for nearly 50 years. With publications serving half a million readers across four continents, they have pioneered business publishing in many areas of the developing world. The Chairman was very happy with our service, saying “we recently engaged DeVono Cresa to negotiate the renewal of the lease for our office in SW1, having used them previously when we originally took possession. Throughout the negotiations they did all the contact work, conferring with us for our decisions on a very few occasions. The process went very smoothly with the new lease being agreed on improved terms. We intend to use them again next time.”