NEWS AT DEVONO

Should they stay or should they move?

Our media client, who serves the Private Wealth Management and Healthcare markets, had a lease expiry approaching. After a thorough investigation by DeVono Cresa, it was decided that the best and most cost effective option was to relocate to new London office premises.

A reversionary lease from the freeholder was explored, as were a number of alternative buildings which were inspected over a period of several weeks. A dilapidations survey was also carried out by DeVono Cresa, allowing our client to fully understand the implications of vacating their existing office.

Once it was established that the required deal levels to stay put could not be met by their current landlord, DeVono Cresa set about researching a shortlist of alternative spaces, followed by viewings of the preferred selected ones and within a short period of time a space in the heart of the City of London on London Wall, EC2 totalling 6,144 square feet was found and negotiations to secure it was undertaken.

The negotiations were swiftly concluded and DeVono Cresa managed to agree a set of savings that worked to the advantage of our client the tenant.

We worked closely with our clients’ solicitors and our own Project Management department to establish a working program designed to deliver the completed lease at precisely the right time. We had to allow enough time for their new office interior to be fitted out before they relocated and leave enough time on the old lease to carry out the dilapidations of their old office which is often an area overlooked.

DeVono Cresa is very proud to have represented another client in the TMT sector while continuing to offer a no conflict approach to commercial property by only ever acting for occupiers.