SHB assisted the National Centre for Social Research (NCSR) in their upcoming commercial project. NCSR had leases on two separate buildings; one being a warehouse and the other being an office building. The idea being that these two premises would be consolidated into one building with a 50/50 split of office space and warehouse.
The brief given by NCSR was very specific in regard to locations and size. SHB scoured the market to find a suitable option for NRCS to consider. Initially, we approached and negotiated on a suitable unit in Billericay, however, after the landlord wanted to reoccupy at the 11th hour we could no longer move forward with the option. A second consideration was an option in Hornchurch which after investigation has some fundamental issues and we advised not to go for the unit.
After considering all options we found the perfect unit in Harold Hill, Romford which was 13,000 Sq Ft – half of which was warehouse space.
NCSR signed a 10-year lease on the site with a tenant-only break option at the 5th year. We negotiated for the landlord to contribute £100,000 to the works of the space plus an additional 4 months rent-free.
This totalled a saving of over £200,000 over the terms.