THE PROPERTY:
38-44 Gillingham Street, London SW1V 1HU
The third floor of an office building, where the landlord was preparing for a major redevelopment. The property was held on a lease expiring June 2017, which was outside the renewal provisions of the Landlord & Tenant Act 1954
WHAT WE DID
We restructured the lease to allow for the occupying business, Racing UK, to remain in the building.
As part of this process we:
- researched the market and the redevelopment options of the landlord
- initially extended the lease for a term expiring in June 2019, agreeing a rent-free period of 3 months
- implemented a reversionary lease in 2017, for a term expiring in 2022, with a further 4 months rent free
- entered into a right of first refusal on further space available within the building
SERVICES PROVIDED
- Lease restructuring and negotiation
- Qualitative and quantitative analysis of alternative buildings
- Available property search
Find out about our lease restructuring services
Contact the team behind this project >>
Tim Malthouse
BA MPhil MRICS
Chairman
