NEWS AT DEVONO

Growing TMT company get desirable flexible lease in The City

Our clients are in the Social Gaming/ Technology industry. As a rapidly growing TMT company, they required a new office space with great lease flexibility to allow for future growth.  

After searching for an office on their own for a few months without success, they turned to DeVono Cresa for help.

DeVono Cresa advised on a relocation strategy and wasted no time in showing them every available off and on market office option which matched their requirement.

After reviewing all relevant options with senior management it was decided that a space on the border of EC1 and EC2 close to the city of London and measuring just over 5,500 sq ft would be perfect as it offered the correct size, location and price.

Negotiations commenced and DeVono Cresa drafted full heads of terms.

DeVono Cresa negotiated a favourable rent and rent free period, as well as a 3 year break. The break was of extreme importance to our client as it offered them the flexibility they required. 

We also negotiated that the existing flat roof connected to the floor would be included within our client’s demise so that they would benefit from a roof terrace, with spectacular views across London, at no extra cost.

Heads of terms were agreed and DeVono Cresa then recommend a panel of solicitors who would offer a proactive and cost effective service.

Solicitors were then instructed and regular discussions took place between our client and their Solicitor in advancing the leasing agreement.

In the meantime, DeVono Cresa advised on practical elements in relation to protocol of the licence for alterations.

Completion of contracts then quickly followed!