Acting on behalf of major manufacturer Schindler, we negotiated a lease renewal at Benwell House in Sunbury-On-Thames, Middlesex.
Schindler had occupied two floors of Benwell House, approximately 17,000 sq ft, since May 2007. The lease was due to expire and they instructed us to negotiate a renewal with the most favourable terms possible while achieving space for expansion.
Savings in excess of £1,000,000 secured
We approached the landlord to determine potential for Schindler to let the whole of Benwell House by acquiring the remaining ground floor space.
Through subsequent negotiations we were able to aid their expansion and secure substantial savings. We reduced the annual rent by 37.5%, down from £21.60 per sq ft to £13.50, along with a revised lease term of five years inside the Act. Two years rent free was also granted.
Overall the savings were in excess of £1,000,000.
Exterior works and refurbishment negotiated to refresh dated space
Our negotiations with the landlord secured a number of additional benefits including the replacement of the plant, various works to the exterior, and refurbishment of the ground floor and reception area to grade A office specification.
Our building consultants project managed the building works and the M&E consultants. A Schedule of Condition for the external repairs ensured Schindler were not liable for any plant costs until our consultant ratified the works.