Queen Mary University of London – East London Acquisition
Queen Mary University of London, a Russel Group university appointed Daniel Watney to secure 70,000 sq ft of offices to support their expansion programme in close proximity to their campus on the Mile End Road.
Our Role
A thorough search of the market to identify suitable opportunities
We carried out a number of viewing tours and considered the merits of each opportunity
Detailed cash-flow analysis of the preferred opportunities to help inform decision making
Negotiate detailed Heads of Terms to secure the best financial deal and protect QMUL’s interests in terms of other liabilities, for example – repairing obligations, service charge, break options, alienation rights and rent review provisions
Liaising with QMUL’s other consultants (solicitors, fit-out and IT) to ensure the matter was seen through to successful completion.
Result
Daniel Watney were able to secure Empire House, 67-75 New Road E1 ‘off market’, a 15,948 sq ft self-contained office building which had recently undergone a substantial refurbishment to provide modern, ‘media style’ offices.
In addition, Daniel Watney secured Department W, 69-89 Mile End Road, a 55,380 sq ft self-contained office building which had been comprehensively refurbished by Schroders Asset Management. Daniel Watney had identified the forthcoming availability some 12 months before completion of the scheme. The building subsequently went under-offer to another party however Daniel Watney continued to monitor the situation and were able to move very quickly when the previous deal ‘fell out of bed’.
Combined, a total of 71,328 sq ft across 2 buildings. and Daniel Watney were able to save over £6.4 in rent for our client.
