Our ClientsWe take pride in the work that we deliver

Our Journey with Deloitte

Deloitte are one of the Big 4 global consultancy firms with over 27 offices in the UK. Since 2017, DeVono has been instructed by Deloitte to offer transactional support and advisory services in relation to multiple real estate events and requirements across the country.

London: We advised Deloitte Digital on their requirement of up to 70,000 sq ft in the creative corridor in order to facilitate growth and expansion plans for the service line.

Cardiff: DeVono provided strategic transactional support in relation to expanding their business support team. Further to this, we were involved in managing Deloitte’s existing portfolio of offices, as well as in their search for potential opportunities for consolidation and expansion.

Nottingham: We assisted Deloitte with the search for their new East Midlands office and provided ongoing support in managing the tenure of legacy of the Nottingham office.

Services Included:

• Transactional Support and Advisory Services
• Extensive Market Reviews
• Office Acquisitions of Leasehold and Flexible Solutions
• Lease Consultancy
• Commercial Real Estate Consultancy
• Portfolio Management

Our Journey with Zoopla

Our latest acquisition of additional space on behalf of ZPG brings our total number of completed projects for ZPG to eight. All of our projects with ZPG have been completed within the last six years. During this time, we have been appointed and reappointed to help them acquire two main HQ buildings, one of which was achieved as an off-market pre-let, completely outside the public domain.

DeVono has executed a range of disposals of inherited and unwanted real estate as ZPG has purchased other companies, while simultaneously handling surrender deals, assignments, rent reviews and dilapidations for ZPG.

Services Included:

• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Office Disposals
• Lease Consultancy: Rent Reviews
• Dilapidations
• Building Surveys

Our Journey with Red Bull

Eight years after acquiring Red Bull’s Tooley Street (SE1) HQ for them, we were once again appointed to help consider their real estate options, culminating in our acquisition of a lease over an off-market warehouse in the very heart of Covent Garden.

As an ongoing client, we continuously support Red Bull with all aspects of the UK real estate and in addition to acquiring their current HQ, our design and build team were appointed to create an inspiring and unique fit out their space and people.

Services Included:

• Commercial Real Estate Strategy & Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Lease Liability: Office Disposals / Surrender
• Lease Consultancy: Rent Reviews
• Dilapidations
• Building Surveys
• Design & Build by our Dthree Studio Team

Our Journey with Twitter

As an ongoing client, we support Twitter both in the UK and globally.

Most recently, DeVono was appointed by Twitter to help solve their issue of misaligned lease events. Twitter occupied the 1st and 6th floors of 20 Air Street, however the two floors had different lengths of time remaining on their lease.

DeVono assisted in making the leases concurrent and settled a rent review early with the landlord, which brought the two floors together under the same lease. As a result of our negotiations the client not only stabilised their commercial real estate strategy, they also achieved above market incentives.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Global Real Estate Transactions and Advice

Our Journey with Farfetch.com

DeVono has enjoyed a long relationship with global online fashion retailer, Farfetch – advising on and completing five transactions over six years. In June 2018, we acquired 20,000 sq ft for Farfetch in Helical PLC’s The Bower building, following an initial acquisition of 25,000 sq ft in the building in 2015.

In addition to these transactions, DeVono has supported Farfetch’s ongoing growth strategy by providing responsive and timely flexible solutions, in close proximity to their London HQ.

DeVono continue to support Farfetch in their London and Global real estate requirements.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold and Flexible Solutions
• Lease Consultancy: Rent Reviews, Lease Expansion, Renewal / Regear
• Dilapidations
• Building Surveys
• Global Real Estate Transactions and Advice

Our Journey with Investec Asset Management

DeVono provided Investec Asset Management with a commercial real estate consultancy service which enabled the firm to understand the issues and opportunities around moving to a new London HQ. The consultancy team helped develop a real estate strategy that was fit for purpose now and could facilitate future growth, in synergy with the ambitions of the business.

The first step in the process involved DeVono advising Investec Asset Management on their rent review and the approaching lease expiry which offered no option to renew. As a result, we were tasked with finding Investec Asset Management their new London HQ. We worked closely with the leadership team throughout the project on the decision-making process, which included cash-flow analysis, negotiations, modelling of the Heads of Terms and much more - whilst providing transactional support throughout.

We continue to work with Investec Asset Management as their commercial real estate partner.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Lease Liability: Office Disposal
• Lease Consultancy: Rent Reviews
• Dilapidations
• Building Surveys
• Global Real Estate Transactions and Advice

Our Journey with Young Minds

Fifteen months ahead of the lease expiry in Bermondsey, The DeVono Group as invited to meet with Young Minds to discuss how they could help them with a “stay versus leave” analysis. The process began with a detailed workplace consultancy, with the Young Minds business plan and organisational culture at the forefront of the project. Factors such as staff productivity and morale, company agility, and overall retention were all important considerations. The workplace project included a space calculator, a stakeholder / leadership workshop, time and motion studies, staff engagement surveys, and a furniture and storage audit. The findings of this report formed a detailed project brief and were fed into a thorough market search.

After detailed negotiations on three shortlisted options, a new lease was eventually secured at India House, with a significant incentive package built into a ten ten-year lease commitment.

Dthree Studio continued their support with designing and building the new office, focussing heavily on staff wellness, capturing the green agenda, considering the impact of technology, and all this within the budget set by Young Minds at the beginning of the project.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Workplace Consultancy & Surveys
• Office Acquisitions of Leasehold Solutions
• Dilapidations
• Building Surveys
• Design and Build by our Dthree Studio Team

Our Journey with Cathay Pacific

Cathay Pacific wanted to change its current working environment as the space had become inefficient and no longer representative of the brand. The airline appointed DeVono , two years in advance of its lease expiry, to help get a true understanding of the space requirement and start looking at other properties in Hammersmith and West London locations, which was important due to its proximity to many of London airports.

Cathay Pacific felt that the space they occupied at the time would need to be reconfigured to achieve the desired cultural uplift. DeVono undertook an in-depth property search for Cathay Pacific and secured a quality, brand new and efficient 10,000 sq ft space at Waterfront, Hammersmith Embankment – and delivered considerable savings.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Office Acquisitions of Leasehold Solutions
• Dilapidations
• Building Surveys
• Project & Relocation Management

Our Journey with Cazoo

DeVono were appointed after a long-standing relationship with the founder of Cazoo, to embark on a search and acquisition for their first London office. A thorough unveiling of the Euston / Kings Cross submarket was followed by accompanied viewing tours and subsequently detailed head of terms negotiations on a favoured building.

The accommodation acquired was a short-term sublet from an AI company looking to mitigate a liability, and so favourable terms were secured by way of a low passing rent, above-market rent free incentives, and a limited repairing liability.

DeVono were once again retained to then deal with the lease renewal with the landlord, once the sublease approached expiry. A new longer term lease was then agreed on revised terms, with a landlord who invested capital on the building for Cazoo’s future use.

In conjunction with these leasehold transactions, our flex / managed office team, were tasked with sourcing an overflow requirement, to the order of 100 desks, and so carried out a search of the flex market. A unique opportunity presented itself at a mainstream, high profile, serviced office provider, located next door to the original leasehold property. A flexible licence agreement was agreed on newly fitted out managed space, for a term to coincide with the neighbouring existing lease.

Services provided:

• Leasehold agency and workplace support
• Flexible office consultancy
• Building Surveys

Our Journey with Azur Group

We first spoke to Azur back in 2017 through a client recommendation. They had just moved into a serviced office in the city and were therefore settled for the next 24 months. DeVono kept in touch, providing useful market insights each quarter, until we was eventually appointed in 2019 to help Azur define a new real estate solution that could accommodate their expected growth whilst protecting cash flow.

We undertook a thorough market research project across spanning from city core moving into Old Street, looking at both short remainder leases as well as flexible leasing solutions – to present all the options. We provided a detailed cash flow comparison of Serviced vs Managed vs Leasehold space – and based on the evidence we negotiated and agreed excellent terms on a managed space for Azur.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Flexible Solutions

Our Journey with Foxtons

The property company appointed DeVono to review its leasing strategy at Chiswick Park.

The appointment was in advance of an upcoming lease expiry and impending rent review, and following a comprehensive negotiation with the landlord, we completed a regearing of Foxtons lease, and in doing so, settled the review and extracted £2.5m of incentives for our client.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Lease Consultancy:
  - Regear
  - Rent Review
  - Lease Extension

Our Journey with Egmont

DeVono was instructed to carry out a detailed ‘Stay or Leave’ analysis. Egmont were in a traditional leasehold space and they wanted a solution which offered them greater flexibility and allowed for a more agile working environment.

We exposed the client to a number of flexible office providers across several sub-markets to identify a solution that aligned with Egmont’s vision of a more collaborative way of working.

We negotiated the best terms possible and delivered significant savings for the client.

• Space audit and appraisal of working practices and densities
• Building sourcing and negotiations at alternate options
• Financial modelling and reporting

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Flexible Solution

Our Journey with A.T. Kearney

Appointed two years in advance of their existing lease expiry, Kearney needed a new global HQ to relocate to that best represented their brand and their people, both of which are fundamental to their business prowess. DeVono supported Kearney on ongoing financial modelling with domestic and US reporting throughout their search.

After extensive initial building searches spanning all central London submarkets, we identified, negotiated and ultimately acquired on Kearney’s behalf, a pre-let lease over a floor undergoing extensive refurbishment at the historic Adelphi Building.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Dilapidations
• Building Surveys

Our Journey with Habito

DeVono has supported the rapid expansion of Hey Habito, the UK’s leading online mortgage provider since 2016, with Dthree delivering the workplace design and build.

The DeVono Group was appointed once again by Habito following subsequent rapid growth. They were unsure whether to expand within the current building or relocate to an entirely new space. We carried out a thorough search of the market and provided advice around space planning. Based on the analysis, Habito decided to stay in The Loom, and relocate to the available 5th floor - a solution that could also accommodate further expansion.

Following Dthree’s successful delivery of the initial space, Habito chose to work with the team again on the design and build of the larger space.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Dilapidations
• Building Surveys Design and Build by our Dthree Studio Team

Our Journey with Cision (Gorkana)

Initially appointed to defend three rent reviews at three different buildings for them, Cision then asked us to consider their central London footprint in advance of a number of options to break in their then existing leases.

DeVono Cresa carried out an exhaustive building search across central and greater London and negotiated on Heads of Terms with detailed financial modelling and analysis. After a period of due diligence we ultimately found and negotiated for Cision a long-term underlease from JP Morgan in Canary Wharf.

In addition, DeVono Cresa provided ongoing consultancy to Cision to engage a Steer co and set targets.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Lease Consultancy: Rent Reviews
• Dilapidations
• Building Surveys

Our Journey with Joseph Joseph

DeVono has continued to support Joseph Joseph on its real estate strategy since 2013.

Most recently, we were appointed by Joseph Joseph to carry out a rent review of their office space and undertake a full office market report to enhance their understanding of available opportunities.

Further to this we provided fit out and space planning support along with a Stay or Leave Analysis project, reviewing several shortlisted options and embarking on negotiations. As a result of our research, Joseph Joseph decided to acquire space within 100 Union Street with DeVono supporting throughout the negotiations.

We managed the entire process on behalf of our client and agreed an optimal financial agreement.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Lease Consultancy: Rent Reviews
• Dilapidations
• Building Surveys

Our Journey with ActionAid UK

Over the past 10 years we have advised ActionAid at board level on all of their UK real estate decisions, after initially being instructed by ActionAid to find their new London HQ. Their main objective was to secure a larger space, in a more central location without incurring much higher costs.

Following a full Stay or Leave Analysis project, DeVono sourced a large and diverse selection of suitable properties for our client, and within the results we identified a unique opportunity - a building at the early stages of substantial redevelopment by the freeholder. We proposed ActionAid to the landlord as a prospective anchor tenant and managed to secure advantageous lease terms, and huge savings for the client.

DeVono later advised ActionAid on their rent review of their space, and further supported them on the disposal of surplus space within their HQ.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Lease Consultancy: Rent Reviews, Regears
• Lease Liability: Office Disposal
• Dilapidations
• Building Surveys

Our Journey with Tandem

DeVono was instructed to carry out a detailed ‘Stay or Leave’ analysis. Tandem were in hyper growth mode and needed a solution that gave maximum flexibility whilst keeping a firm grasp of capital expenditure.

We exposed the client to both the conventional and flexible office markets to identify an off-market opportunity that aligned with Tandem’s high growth business objectives.

We negotiated the best terms possible and delivered significant savings for the client.

• Space audit and appraisal of working practices and densities
• Building sourcing and negotiations at alternate options
• Financial modelling and reporting

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Flexible Solutions

Our Journey with Trade Desk

DeVono was appointed to advise the global media firm The Trade Desk on their UK real estate strategy. The Trade Desk, which at the time occupied 10,000 sq ft, were looking to more than double their current size in London, whilst remaining in a location that reflected their brand and allowed them to attract top talent. On appointment, DeVono conducted a market-wide search and after shortlisting 3 options were successful in securing the 9th, 10th and 11th floors of the landmark Helical PLC development, One Bartholomew.

DeVono was successful in not only securing high quality Grade A space in one of central London’s most sought after locations, but also managed to acquire an option that could support The Trade Desk in their future growth plans. In total, DeVono acquired 54,000 sq ft for our client and are currently instructed to dispose of their surplus space in line with a strategy that allows the flexibility for future growth.

DeVono has also supported Trade Desk with flexible office solutions and continue to provide advice on an ongoing basis.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold and Flexible Solutions
• Lease Liability: Office Disposal

Our Journey with Venture X

With 36 centres currently in operation around the globe, mainly in the US, the franchisee for the UK model instructed DeVono Cresa to carry out a thorough market search for the first London and UK flagship centre.

The requirement was broad in terms of location, as we were tasked with exploring several different sub-markets in central London, using market data analytics to show areas of opportunity and where the competition existed. A number of areas were all considered, and eventually Chiswick Park was chosen as the destination. This was largely due to the campus-like feel of the business park, and the existing critical mass of potential new customers as a “feeding ground” for securing new tenants into the business centre.

Our in-house Design & Build team, Dthree, worked alongside the client to mirror the Venue X brand and replicate this into the new design of the office, and eventually project manage and build the fit out into the space.

Brand awareness and the Venture X identity were paramount throughout the whole process, and the new London HQ is now already 100% let after 6 months of the opening.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Building Surveys
• Design and Build by our Dthree Studio Team

Our Journey with wearesocial

DeVono were was initially instructed by We Are Social in 2010 to advise them on their real estate strategy. Since then, we have carried out three separate lease acquisitions, which included sourcing, negotiating leasing terms, and ultimately relocating them to bigger premises each time in central London, in line with business growth. The latter of the three acquisitions was a pre- let deal to lease their present London HQ at Alphabeta.

DeVono’s project management team then supported We Are Social on the category B fit out works undertaken in their new space.

In addition to these transactions, DeVono has supported We Are Social’s ongoing growth strategy by regearing leases for them and divesting them of residual leasing liabilities. We carried out a short termshort-term disposal of space excess to their immediate needs via an underlease.

We continue to support We Are Social on all aspects of their real estate strategy.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Lease Consultancy: Rent Reviews, Lease Regears
• Lease Liability: Office Disposal
• Building Surveys
• Dilapidations
• Project Management

Our Journey with Mace

Since 2015, we have advised Mace at board level on their real estate strategy and have carried out three rent reviews on various sites including their head office in Moorgate.

In addition, although Mace already occupied multiple offices and sites around central London, they were looking to acquire additional project space for a contractor’s office.

DeVono secured an excellent space for Mace in a serviced office on Grosvenor Square in Mayfair. The location was extremely convenient for project they were working on and the flexible terms suited the business’s quick project turnaround.

We continue to work with Mace on their commercial real estate strategy to support their rapid growth and locational needs.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Flexible Solutions
• Lease Consultancy: Rent Reviews

Our Journey with Fender

DeVono has supported Fender with commercial real estate advice for the last three years. Most recently, DeVono has been appointed to acquire Fender, their new London offices and Artist Showroom HQ. This project concluded by acquiring the entire self-contained and newly renovated Grade II listed building at 22 Endell Street, WC2, totalling 5,077 sq ft of newly refurbished office space across lower ground, ground and three upper floors. The agreement demonstrates that the best-in-class space continues to shine through in attracting global brands such as Fender.

Fender also assigned office design specialists Dthree Studio to renovate 22 Endell Street. Fender briefed Dthree Studio to renovate the space to align with its portfolio of guitar brands. We revamped the location to modernise the look and feel of the office, all while respecting the existing heritage of this iconic central London building. 22 Endell Street is now designed in such a way as to reflect Fender’s brand values of honesty, aspiration and timelessness.

Services Included:

• Transactional Support and Advisory Services
• Design and Build (DThree)
• Office Acquisitions of Leasehold Solutions
• Lease Consultancy: Rent Reviews
• Dilapidations
• Building Surveys

Our Journey with Huawei

Huawei occupied multiple sites across central London. However, as certain projects required a larger team to be based in London, they required additional office space in near proximity.

After reviewing the situation - we advised Huawei that taking a serviced solution would be the ideal option, whilst they considered their longer-term strategy.

DeVono acquired serviced office space at 107 Cheapside for Huawei and continue to support their future real estate plans.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Flexible Solutions

Our Journey with English Heritage

DeVono was instructed by English Heritage to provide advice on its lease expiry at Waterhouse Square in Holborn and future commercial real estate strategy.

The key requirement for the client was that the new space must be ethically and characteristically a good fit with the English Heritage brand. Having partnered with organisations with similar concerns previously – the team worked in tandem with English Heritage’s Project Manager to search the market, evaluate several options and locations, and arrive at the perfect commercial real estate solution at 100 Wood Street in the City.

DeVono negotiated and secured an impressive deal with a significantly reduced rent and increased rent-free period.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Dilapidations
• Building Surveys

Our Journey with Farmdrop

Whilst in serviced offices, Farmdrop appointed DeVono to help define a new real estate solution that could accommodate their expected rapid growth whilst protecting cash flow through a sustainable solution.

We undertook a thorough market research project across London, looking at both short remainder leases as well as flexible leasing solutions – to present all the options. Farmdrop were open minded as to what would be the best solution for the business. We provided a detailed cash flow comparison of Serviced vs Managed vs Leasehold space – and based on the evidence we negotiated and agreed excellent terms on a managed space for Farmdrop.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Flexible Solutions

Our Journey with Stone X

DeVono was instructed by StoneX to provide advice on the acquisition and lease restructure of additional space within their existing building.

At a time when the StoneX business was looking to grow and rebrand, this led to a need for increased floor space to act as their HQ premises for London. Terms were agreed to acquire an additional floor within the building, contiguous to the existing space, whilst also a major restructure of the leases was negotiated. As part of our negotiations, in return for securing the landlord a longer lease term and income stream, the deal was heavily incentivised by way of a substantial rent-free period and reverse premium, which was paid on lease completion to enable some of the extensive fit out works that were required as part of the client’s future commitment to the building.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Office Acquisitions of Leasehold Solutions
• Building Surveys

Our Journey with International Rescue Committee

DeVono was instructed by the International Rescue Committee (IRC) to source and acquire a new HQ premises for London, as the then existing accommodation was no longer considered fit or purpose. A lease expiry enabled the organisation to totally rethink and modernise the new office set up, and so a market wide search was initiated.

Both leasehold and flexible/managed options were considered as part of the brief, and so a wide variety of options were considered at the early stages. The process soon whittled down the properties to a shortlist of 4, which were then scrutinised and negotiated on heavily, until the preferred option was agreed at 100 Wood Street in the City.

A new lease with two tenant-only break options was secured, and a heavily incentivised rent-free package was agreed on behalf of IRC, which also helped finance the major refurbishment works that were required as part of the overall project to deliver improved and more appealing offices for their workforce. Building surveys and dilapidations advice were also provided as part of this project for IRC.

Services Included:

• Commercial Real Estate Strategy and Consultancy
• Transactional Support and Advisory Services
• Dilapidations
• Building Surveys