London Wall Banking

Client

London Wall Banking, first Bank of Nigeria.

Brief

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.

Result

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.

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