Property Exit Strategy Case Study - Sedex

How we helped

• Worked closely with Sedex to understand business objectives and culture.
• Developed an exit strategy to ensure an efficient exit from existing premises.
• Provided building consultancy advice to mitigate dilapidations costs at exit.
• Mitigated rating liability at exit from existing premises with business rates advice.
• Having understood Sedex’s culture and values, undertook in-depth search of office market for an appropriate solution.
• When the pandemic hit, we evolved our search to meet our client’s changing needs.
• Identified 11,200 sq ft of office space at a prime City location – 5 Old Bailey, close to St Paul’s at the junction of Old Bailey and Ludgate Hill.
• The building represented a prime poct-COVID19 location -newly refurbished Grade A offices, fully fitted out with collaboration space, bike racks and showers, ability to open windows.
• Working with the landlord’s agents, BNP Paribas, negotiated a 5-year lease with 15 months market rent-free.
• Provided ancillary business rates advice in relation to the new premises.

What impressed us from the beginning was that Kevin and Claudia worked through our needs in a meticulous way and understood the nuances of the various locations, never tried to push us in a particular direction and were always conscious of our concerns about the London property market.

 Liz Aldred, Director of Human Resources, Sedex.

Results

• Our shared values and culture and ability to understand our client’s brief meticulously, helped Sedex to right-size their business premises for a post-COVID world.
• We secured the new premises on best possible terms, reducing their property costs.
• The new building matched their culture, creating a collaborative and inspiring workplace fit for the future.
• Offices are open and staff have returned to enjoy the benefits of the new facilities on offer.