LDA Design Ltd
LDA Design, an independent consultancy of urban designers, landscape architects and planners, instructed Daniel Watney with respect of their possible relocation of the London HQ.
LDA were faced with an upcoming break option in their existing lease which they requested Daniel Watney to review alongside commencing a possible relocation strategy. We looked into this and opened up negotiations with the Landlord to remove this break option, alongside conducting a review of the market.
Our Role
A throughout search of the market to identify suitable options matching the clients’ brief.
We carried out a number of viewing tours of suitable properties, considering the merits and drawbacks of each.
We conducted detailed cash flow analysis of the preferred options to help inform decision making.
Alongside negotiating with their existing Landlord to remove the break, we negotiated detailed Heads of Terms to ensure we secured the best possible deal for LDA. This included financial outgoings but also repairing obligations, service charges, break options, alienation rights, alterations provisions and rent review provisions.
Liaising with LDA’s other consultants (solicitors, IT contractors, M&E engineers) to ensure the matter was seen through to a successful completion.
Result
We successfully acquired 4,504 sq ft if office accommodation within 209 Blackfriars. The building had undergone a comprehensive refurbishment and provided stunning ‘creative’ office accommodation.
Daniel Watney were able to secure a 12 month rent free period and a saving in excess of £350,000 across the term.
