DeVono Cresa first advised this Economic think tank 2 years ago when we helped them acquire an office for their London HQ. Due to our success we were then brought back in towards the end of 2011 to advise them for a second time in relation to their commercial property strategy.
A reversionary lease of their existing space was explored but discarded as a viable option due to the freeholder’s inflated rental aspirations. Accordingly, a dilapidations survey was quickly produced and evaluated, allowing our client to fully understand the financial implications surrounding the concept of vacating their existing office.
As a result, a search area was then established and a series of building tours were conducted, before a shortlist of two potential office options was made. A space assessment and planning exercise was reviewed along with an estimated costs package identifying all the relevant charges associated with leasing an office. This was then reviewed with senior management with the favoured option negotiated via DeVono Cresa until a satisfactory conclusion was reached by all parties for 4,975 square foot of office space in Holborn, EC1.