DeVono Cresa was under pressure to deliver new office premises very quickly due to growth demands. Our clients wanted to relocate from their existing serviced office and into their own leasehold office.
Our client is a new UK division of a global mining firm. They bring together premium expertise in the oil & gas, mining and real estate sectors, combining a strong global footprint with an intensely local focus on their key regions.
Their target investor market was the luxurious surrounds of Mayfair, W1, so we focussed our search purely on this location. They wanted a smart, refurbished, period building to portray a West End of London image to their clients.
We viewed a number of good quality buildings with them until 2 buildings had been shortlisted. Following a detailed cost and building review exercise our client gave us formal instructions to progress with the negotiations.
After a reasonable negotiation process and a short period of being under offer, the freeholder of one of the buildings received an offer from a company wanting to purchase the building. The freeholder of the building duly accepted the offer, which ultimately meant that our client could no longer lease office space within the building. This was very frustrating but made DeVono Cresa even more determined to complete this project.
We therefore had to view more properties again very quickly, which we duly organised and undertook in the immediate days following this news.
DeVono Cresa managed to find an even better alternative, which already had a perfectly suitable fit out in place on Davies Street in Mayfair, W1, in one of the newer, modern, highly specified buildings in a prime West End location.
The transaction was negotiated and agreed within 3 days by DeVono Cresa and the lease was completed within 4 weeks to fit in with our clients time demands.