Lyle & Scott Ltd faced a critical “Stay vs. Go” decision, balancing their need for more space with the goal of keeping costs down. Their final choice depended on securing the right deal, but the decision-making process was challenging.
Ultimately, they opted to remain in their existing space, negotiating a lease renewal on highly favourable terms. The new agreement secured a five-year lease with a mutual break at the third year, along with a significant initial rent-free period and an additional rent-free period if the break is not exercised. This strategic move resulted in an estimated saving of £300,000, ensuring financial efficiency while maintaining their established office location.