Reading Bridge House, Reading
Relocation from Oxfordshire
Market knowledge
Expert lease negotiation
Lease Negotiation Case Study - eCapital
5,775
sq ft
office building
Challenge
Vail Williams was appointed by international provider of commercial finance services, eCapital, to support them in finding new premises.
The client, an owner-occupier, had premises in South Oxfordshire, however the location was not ideal, set as it was in an industrial location.
To improve talent attraction and retention, the client wished to relocate to from Oxfordshire to Reading town centre, close to the train station, where it would take more space to allow for future growth.
How we helped
- Undertook robust marketing campaign with joint agent
- Engaged with known occupiers who had an unfulfilled requirement for this type of space
- Competition was high, owing to lots of competition
- Aimed to attract regional and national occupiers with a focus on the industrial and logistics sectors
- Identified roofing materials supplier, Danosa UK Ltd, as potential occupier having recently expanded into the area
- Construction was complete so focused on fact that the business could move straight in, whilst other sites were still in development
- Despite their preference to remain closer to Portsmouth, Independence became Danosa’s location of choice.
The prospect of an office move can be a daunting one but knowing that you have the market knowledge and negotiation skills of Vail Williams on your side, relieves the burden of office relocation from your shoulders somewhat. A knowledgeable and well-organised project led by James Newton; we are delighted with the end result.
David Tilling, CEO, eCapital.
Results
- Secured space to meet client brief
- Negotiated best possible deal at £29.00 psf on a five year term with 15 months rent free
- In addition, the landlord fitted out the suite for them, to provide a Cat A+ quality office to support them in talent attraction and retention
- The deal, from start to finish, was completed within six months
- The business is now set up for future growth, with a high-quality office environment and the grow-on space they need, as the business goes from strength to strength
- Our agency team was subsequently retained to dispose of their former office building in south Oxfordshire.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
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