Our clients are a subsidiary of a large Angolan oil and gas company.
They approached DeVono Cresa to search for a new office as their current building was being prepared for redevelopment.
They weren’t completely sure whether they wanted to lease or purchase an office building. DeVono Cresa provided them with the requisite information regarding values for both options in their search areas.
They decided to concentrate their search on Canary Wharf, E14 as a suitable location. We showed them a number of options in the area that included both leasehold and freehold properties.
Once we had exhausted every option in the area, one property stood out above all the others. The long leasehold property in Millharbour, E14 was in a shell and core condition which was reflected in the asking price.
There were a number of difficulties to overcome with this building as the landlord went into administration which meant the transaction took longer than originally anticipated to conclude. These issues were eventually overcome and all parties moved towards completing the contracts. Our clients then took possession and their interior design and fit out could commence.
By: Kirsty MacGregor