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Case
Studies
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March
2008 -
London Showroom Acquisition
We were recommended to Humanscale (an American furniture
manufacturer) and acted for them in their acquisition
of the ground floor and basement of
Parchment House, 13 Northburgh Street, London EC1 (4,672
sqft).
We
achieved savings of circa £281,000 over the
first 5 years of the lease and received a fee of £16,800
plus VAT. |
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Oct
2007 - London Showroom Acquisition
We were recommended
to GDB UK (a Belgium furniture manufacturer) and acted
for them in their acquisition of the ground floor and
basement of
155-157 Farringdon Road, London EC1 (4,632 sqft).
We negotiated a rent free period equating to £108,333 over
the term of the lease, our fee was £13,000
plus VAT |
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Aug
2007 - London Office Acquisition
We were reinstructed by Arkadin (a telecommunications
company) to assist them with their expansion.
We negotiated the surrender of their existing lease
in 26-28 Hammersmith Grove, W6 and the terms
of an “off market” transaction on the
3rd floor (11,911 sqft) within the same complex and achieved
a saving of £498,000 over the term of the lease,
our fee was £57,000 plus VAT. |
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July
2007 - London Office Acquisition
We were reinstructed by Cameron Kennedy (a recruitment
consultancy) to assist them with their expansion,
we negotiated the terms on the lower ground floor
(3692 sqft) of
20 Abchurch Lane, London EC4 achieving a
saving of £87,685 over the term of the lease,
our fee was £8,300 plus VAT. |
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Nov
2006 - London Showroom Acquisition
We were recommended to Hettich UK (manufacturers
of components for the furniture industry) and acted
for them in their acquisition of the ground floor
and basement of 79 Clerkenwell Road, London EC1 (2,375
sqft).
We achieved a saving of 70,833 over the
term of the lease and our fee was £6,500
plus VAT. |
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Oct
2006 – London Office Acquisition
We were reinstructed by Greythorn (a recruitment
consultancy) to assist them with their relocation.
5000 sqft was acquired in 21 Wilson Street, London
EC2; we achieved total savings over the initial
5 year period of the lease of circa £133,000
and our fee was £18,000 plus VAT.
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March
06 – London Showroom Acquisition
We were recommended to Connection UK (a seating manufacturer)
and acted for them in their acquisition of the ground
floor and basement in 15 Great Sutton Street, London
EC1 (2,233 sqft).
We achieved savings totalling £47,500 over
the term of the lease and our fee was £5,000 plus
VAT. |
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August
2006 - The World Development Movement
The World Development
Movement (a well known charity) instructed us to acquire
a freehold office building in south west London.
With a restricted budget and without
the ability to reclaim VAT their options were limited,
however the above building was identified "off
market".
The quoted price was £1,000,000
and after negotiation the agreed price was £865,000
thus saving £135,000. The firm's fee was £13,000
plus VAT |
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March
2006 - JBoss Ltd
We were recommended by a previous client
to assist JBoss Ltd (a computer software company) to establish
their new London office.
64 Baker Street was chosen because it
provided "Grade A" space and good value.
A new 5 year lease was negotiated incorporating
a tenant's only option to break, a cap on the service
charge and the ability to sub let the rear section
of the floor.
In addition to the above, financial
savings over the term of lease were agreed totalling £77,000.
The firm's fee was circa £5,000 plus VAT
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July
2004 - 15 St Martins Way, London SW17
Colouration, a print and graphics company, instructed
us to acquire a new freehold production / office building
in the Wandsworth area. 15 St Martins Way was identified
which totalled approximately 3747 sqft.
The saving achieved from the quoted price
was
£70,000; our fee was £5,375 plus VAT. |
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June
2004 - Arkadin
Arkadin a telephone conferencing company instructed us
to acquire their new offices in Hammersmith, London W6.
7200 sqft was taken on a new 5 year lease.
The savings
achieved over the 5 year lease totalled £332,260;
our fee was £21,225 plus VAT. |
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June
2004 - Cameron Kennedy
Cameron Kennedy (a financial recruitment consultancy)
has acquired a new 2 year lease on the 6 th floor of
25 Bucklersbury, London EC4 with 5 months rent free.
The floor totalled 3770 sqft.
Warwick
Bookman & Associates acting for Cameron Kennedy
achieved savings of £131,000 over the term
of the lease. |
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September
2003 - Axicom
The directors of Axicom, a PR company, wished to purchase
an office building in West London. We advised that the
market was falling and therefore a short term lease rather
than a purchase would be more prudent. However, we identified
a building in Barnes which after due consideration the
directors felt they could not pass up.
We negotiated a short term lease with an option to purchase
the property within 2 years.
The savings achieved was a reduction
of £391,000 from the asking price and 6
months rent free, totalling
£441,000.
This project took circa 9 months to complete;
our fee was £16,000 plus VAT.
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March
2003 - Greythorn
Greythorn, an IT recruitment consultancy, instructed
us to dispose of their 5,200 sqft period office building
in Southampton Place WC1. An early surrender of their
lease was negotiated saving them £25,500. New premises
were acquired at 125 High Holborn and the total savings
equated to £53,000 from the initially quoted terms.
Their old landlord in Southampton Place served a schedule
of dilapidations asking for £120,000. This was
re-negotiated by us and a £60,000 saving was achieved.
Total savings were therefore some £138,500;
our fees were approximately £20,000 plus VAT. |
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December
2002 - Ciberion
Ciberion, a management consultancy owned jointly by Cap Gemini Ernst Young and
BAT, based in Woking occupied 6,400 sqft. We were employed on a nominal monthly
retainer plus a percentage of savings to (a) conduct a market survey of suitable
alternative premises and negotiate favourable terms (b) use this information
to negotiate with their existing landlord the terms of a new lease.
A reduction in their annual rent of £160,000 was achieved from their existing
landlord.
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March
2000 - UK Film Council
The brief was to acquire approximately 10,000 sqft in central London; at the
time rents ranged from £27.50 to £40.00 psf.
10 Little Portland Street (12,120 sqft) was identified by us; the asking rent
was £28.00 psf or £340,000 per annum.
After negotiation the savings achieved were a rent reduction of £25,000
per annum plus a rent free period of 10 months.
Over the 5 years to the first rent review these savings
totalled £387,500.
This project took circa 12 months to complete
and achieved savings of £387,500 over the 5
years to the first rent review. Our fee was £20,000
plus VAT.
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October
1999 - The British Film Commission
The British Film Commission approached us to relocate their organisation from
Baker Street to Soho. Having conducted a market survey and examined their lease
we advised that that if the Commission were to exercise their forthcoming break
option, a new lease could be negotiated with a 50% rental saving.
We achieved the 50% rental saving and in addition
obtained a capital sum for our client from their landlord.
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September
1999 - Comic Relief
Comic Relief instructed us to dispose of their offices
in New Oxford Street. This was achieved by surrendering
their existing lease, as part of which we negotiated
that their Landlord pay them £25,000 plus VAT.
We were also briefed to acquire their new offices in
central London of circa 10,000 sqft; at the time they
had a strong preference for Soho or Covent Garden where
rents were circa £35.00 psf equating to £350,000
pa.
We advised that it might not seem correct for a charity
to be seen to be paying this level of rent and perhaps
other areas would be more appropriate.
Subsequently 11,529 sqft was acquired in Albert Embankment
at £12.50 psf with the Landlord contributing £100,000
for the refurbishment of their offices.
The following savings were made:
Payment on the disposal of their old offices £25,000
On the basis of the initial brief:
10,000 sqft x £35.00 psf = £350,000 pa
After our advice
11,529 sqft x £12.50 = £140,737 pa + £100,000
capital payment
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Total Saving £209,263 per annum + £125,000
The savings achieved over the 5 year lease totalled
£1.17 million; our fee was £23,473 plus
VAT.
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January
1999 - Great Smith Street, London SW1
Approximately 32,000 sqft of offices was introduced to
a developer and substantially refurbished. It was let
to a government department and the resultant investment
was sold.
The profit on the transaction was in
the region of £4 million.
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