NEWS AT DEVONO

Office lease acquired by DeVono Cresa in Covent Garden, WC2

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Our recruitment clients work across 4 key industry sectors – IT, Engineering, Pharmaceuticals and medical devices – providing a recruitment process that utilises both traditional and more contemporary methods of resourcing.

They had been searching for office space on their own without any success. They were looking for cost effective, high end, large floor plates with as much lease flexibility as possible.  

As they are a relatively new company, they were nervous about having to commit to a lease for 5 years. They also knew that they would be required to provide a considerable rental deposit and have the finances in place for the interior fit out and design. 

DeVono Cresa advised them to consider short term remainder leases. As the client hadn’t previously considered a flexible lease, they were pleasantly surprised at the prospect of a reduced rent with flexibility in the event that they outgrow the space. 

DeVono Cresa undertook a detailed search and showed them a range of buildings across the Covent Garden, WC2 area. 

The client very quickly short listed three options and arranged for their senior management team to review the favoured office options. 

DeVono Cresa provided detailed reports and cost analysis on each property to help them make an informed financial decision. 

The selected preferred space was located on Monmouth Street, WC2 and DeVono Cresa proceeded with the detailed negotiations on our clients behalf.

DeVono Cresa managed to secure our clients a particularly attractive rental level and inflated rent free period which reflected the short term nature of the lease. 

Heads of Terms were swiftly agreed between all parties and contracts completed shortly afterwards. 

Our recruitment clients work across 4 key industry sectors – IT, Engineering, Pharmaceuticals and medical devices – providing a recruitment process that utilises both traditional and more contemporary methods of resourcing.
They had been searching for office space on their own without any success. They were looking for cost effective, high end, large floor plates with as much lease flexibility as possible.  
As they are a relatively new company, they were nervous about having to commit to a lease for 5 years. They also knew that they would be required to provide a considerable rental deposit and have the finances in place for the interior fit out and design. 
DeVono Cresa advised them to consider short term remainder leases. As the client hadn’t previously considered a flexible lease, they were pleasantly surprised at the prospect of a reduced rent with flexibility in the event that they outgrow the space. 
DeVono Cresa undertook a detailed search and showed them a range of buildings across the Covent Garden, WC2 area. 
The client very quickly short listed three options and arranged for their senior management team to review the favoured office options. 
DeVono Cresa provided detailed reports and cost analysis on each property to help them make an informed financial decision. 
The selected preferred space was located on Monmouth Street, WC2 and DeVono Cresa proceeded with the detailed negotiations on our clients behalf.
DeVono Cresa managed to secure our clients a particularly attractive rental level and inflated rent free period which reflected the short term nature of the lease. 
Heads of Terms were swiftly agreed between all parties and contracts completed shortly afterwards. 

By: Kirsty MacGregor

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