Challenge

Our client Vzaar occupied 3rd floor offices in Vauxhall, London, which were subject to a lease renewal. Vzaar required a further 5 year lease but also a tenant’s break option after the 3rd year. In addition, the lift had a history of expensive repairs shared equally between our client and the two other occupiers.

Solution

We established a cost of £80,000 for a new lift and the landlord committed to replacing it within the first 6 months of the new lease. We persuaded the landlord to pay 50% of Vzaar’s share and to cap this at £10,000. We negotiated a 5 year lease and secured a tenant’s break option after 3 years with the first 6 months at half rent plus a further 4 months at half rent if the break option is not exercised.

Results

£2million savings

close
close
close
close
close

This site uses cookies to improve your user experience. By using our website, you are agreeing to our use of cookies.
Click here for more information.