Acquired by clients in 1993 this property was occupied by a variety of high profile tenants. The leases of virtually all the space expire between 2013 and 2016.
The property comprises a 12 storey Building with circa 400,000 sq ft of high quality offices with a potential to accommodate in excess of 4,000 staff.
In 2008 we advised the client on extending the lease terms. We recommended that the landlord invest in the transformation of the reception area which at the time comprised a 1980’s red granite and marble area of circa 4,500 sq ft. The styling was dated and with the clients we appointed an architect to redesign the space. The project was completed in 2011. The work showed a commitment by the landlord to the property and resulted in 50% of existing tenants extending their leases to 2020 and beyond. We are continuing to asset manage this investment with a view to ensuring all the leases run to 2020 and beyond.
We are continuing our discussions with occupiers and potential new tenants.