Firstlight PR, a leading communications agency in London, faced a pivotal decision regarding their office space amidst challenging market conditions. Initially seeking to expand due to business growth, they encountered limited availability and high costs in the market for suitable office spaces. In collaboration with SHB, a Stay Vs. Go analysis was conducted, weighing the advantages of staying in their current location versus relocating.
Despite their desire for more space and flexibility in tenure, Firstlight PR ultimately decided to regear their existing lease instead of moving. This decision was driven by the prohibitive costs and the practicality of maintaining operational continuity. By renegotiating their lease terms, they secured favourable conditions that aligned with their current needs while retaining the option for future adjustments as their business evolves. This case underscores the strategic importance of adaptability and financial prudence in navigating competitive real estate markets to support long-term business objectives.