Track record
Reducing property costs at a Head Office, Bristol
Corporate Occupier
Negotiated a release from part of existing leasehold commitments
Strategic Asset Management
Investment
Lease Advisory
Service
Retail & Leisure
Industrial & Logistics
Industry
Adam de Acetis
The project
The client wanted to reduce their head office accommodation in the Bristol area during the height of COVID, having originally entered circa. 10 year lease commitments in 2018. They sought strategic advice from Rapleys on how to negotiate release from part of existing leasehold commitments.
The client held 3 separate leases covering 3 separate floors, totalling circa 50,000 sq ft.
Our solution
- To negotiate a surrender of part and agree concessions on remainder, thereby reducing property overheads and strengthening cashflow
- Rapleys entered into negotiations with the landlord and agreed;
- An early surrender of the one floor of 17,000 sq ft,
- Generated a total saving of 35% in terms of rent, service charge and insurance commitments
- Generated an annual reduction in occupational costs in excess of £0.5m in rent, service charge, business rates and insurance
- Full release from any maintenance, Health & Safety and statutory liability in relation to the vacated floor
- A rent concession for the remaining 2 floors to pay the rent monthly as opposed to quarterly
- The legals for both elements were completed within 1 month of instructing lawyers.
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Our track record
Stadium Holdings Ltd
1 Olympic Way, Wembley
Neighbourly Matters advice for a 7-storey extension to provide student accommodation
Yorkshire Housing
12,000 Stock Condition Surveys – Yorkshire Housing
Appointed by Yorkshire Housing via the Fusion21 Framework to complete 12,000 stock condition surveys over a 3-year period
Kruton No. 2
9-12 Middle Street, Brighton
Appointed as Employer’s Agent on new build commercial project.
Kwik Fit
Acquisition for Kwik Fit, Atex Business Park, Stowmarket
Instructed by Kwik Fit as national retained acquisition agents
Bernard Construction
Affordable housing provisions for a mixed-use scheme, Balham
Provided a detailed FVA, development advice and affordable housing strategy
Higgins Homes
Affordable Housing valuation for a mixed use scheme, Garratt Lane, Wandsworth
Development Consultancy advice to support a planning application for a mixed use scheme
London and Regional
Albert Island Redevelopment
Providing Cost Management & Quantity Surveying services on an exemplar industrial intensification project
Aldersbrook Baptist Church
Aldersbrook Baptist Church, Wanstead
Sale of church hall and provision of cost advice regarding development and refurbishment of church.
Ropemaker Properties Limited
Alfa Laval Tower, Brentford
Assessed the financial viability of the scheme for a planning appeal
Orchard Street Investment Management
Altrincham Retail Park expansion
Secured planning permission via a Section 78 appeal