NEWS AT DEVONO

DeVono Cresa secure a short term deal in The City, EC3

Our client is an independent financial services group devoted to providing financial and corporate solutions for entrepreneurs, HNWI and financial institutions. 

DeVono Cresa originally acquired a London office for them in 2012 but after major expansion they re-contacted DeVono Cresa for strategic property advice.  

After speaking to the client, DeVono Cresa suggested they look at short term leases due to expected continued rapid expansion.

DeVono Cresa undertook a detailed search based on remainder leases in the City Core as well as Mid Town locations.

Within 48 hours, all possible options had been viewed with our client and they then proceeded to short list two options.

DeVono Cresa then reviewed the property shortlist with their senior management and negotiations began in respect of a property of just under 9,000 sq. ft. on Fenchurch Street, EC3. 

DeVono Cresa negotiated a significant saving of £10 per sq. ft. from quoting rent and also a zero dilapidations liability. In total, we managed to save in excess of £131,000.00.

Heads of Terms for the office space were swiftly agreed between all parties and DeVono Cresa also advised on the licence for alterations. The conveyancing swiftly resulted into completion of the lease contracts and our client was able to move into their new office in a relatively short period of time.

Our clients thoughts on working with DeVono Cresa were, “It was a pleasure working with you again. You always help to make things easier. I also like that you listen and avoid wasting anyone’s time pushing properties and setting unnecessary viewings and meetings, you just focus and deliver efficiency. In a year’s time we must start a new search again, so yes, we need to meet not later than January 2015 to find a new place and prepare for an eventual move in June 2015.” 

By Kirsty MacGregor 

Our client is an independent financial services group devoted to providing financial and corporate solutions for entrepreneurs, HNWI and financial institutions. 
DeVono Cresa originally acquired a London office for them in 2012 but after major expansion they re-contacted DeVono Cresa for strategic property advice.  
After speaking to the client, DeVono Cresa suggested they look at short term leases due to expected continued rapid expansion. 
DeVono Cresa undertook a detailed search based on remainder leases in the City Core as well as mid town locations.
Within 48 hours, all possible options had been viewed with our client and they then proceeded to short list two options.
DeVono Cresa then reviewed the property shortlist with their senior management and negotiations began in respect of a property of just under 9,000 sq. ft. on Fenchurch Street, EC3. 
DeVono Cresa negotiated a significant saving of £10 per sq. ft. from quoting rent and also a zero dilapidations liability. In total, we managed to save in excess of £131,000 .00
Heads of Terms for the office space were swiftly agreed between all parties and DeVono Cresa also advised on the licence for alterations. The conveyancing swiftly resulted into completion of the lease contracts and our client was able to move into their new office in a relatively short period of time. 
Our clients thoughts on working with DeVono Cresa were, “It was a pleasure working with you again. You always help to make things easier. I also like that you listen and avoid wasting anyone’s time pushing properties and setting unnecessary viewings and meetings, you just focus and deliver efficiency. In a year’s time we must start a new search again, so yes, we need to meet not later than January 2015 to find a new place and prepare for an eventual move in June 2015.”