Welcome to Boros CRE
Welcome to Boros CRE

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Peter Boros

 

Mob: +44 7836 213 842

Tel:   +44 1189 406 335

 

Peter.Boros@Boroscre.com

 

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Re-gear Major London HQ

This is a classic case of opportunism, where my

client was able to take benefit from one of those rare instances, when a business’s objectives and it’s property opportunities are in perfect alignment. 

 

At the end of 2011, the client was reviewing whether or not it should consider relocating when it’s Lease came to an end - due in mid 2014.

 

The client was fundamentally happy with the space but the rent was quite high in the current market place.


I had over time secured a good relationship with the Landlords UK representative, and was able to 'tease' out from them previously that they had been working towards a new ‘block’ date for the whole 7 floor building, given the current recession. They had other space coming up in the building and whilst they had deep pockets, the last thing they wanted was a further void.


Thus the opportunity started to take shape.

What we were able to achieve

       

Property Details


  • 25,800 sq ft
  • Passing rent - £1,240,500 pa (£48.10 psf)
  • Expiry – June 2014
  • Client willing to commit for a further 11 years term certain.

 

 What was agreed?

 

  • 11 year reversionary leases
  • Rent reduced to £735,000 pa (£28.50 psf);

 

 A Reduction of £505,000 pa (41%).

 

 Total Savings Achieved: £1,400,000  

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