London Wall Banking, first Bank of Nigeria.
Negotiate five rent reviews for leases totalling 20,000 sq. ft. – ranging from 600 sq. ft. to 9,000 sq. ft. – in a landmark building in the City.
The client had initially commenced negotiations with the landlord but could not reach an agreement. Our challenge was to recommence the negotiations – against a backdrop of increasing rental evidence within the building.
Achieved annual saving of over £350,000 per year from the initial rent quoted by the landlord. This represented a saving of £3.5m over the life of the lease.
This was achieved by undertaking detailed research of all relevant matters and securing a favourable settlement for both parties – without the need to seek reference to third party determination.