As part of its sale of Williams Lea Tag, DHL instructed Newton Perkins to market and dispose of the former’s substantial office premises in the recently developed Aldgate Tower, E1.
WLT occupied the entire 11th & 12th floors comprising c.40,000 sq ft of recently fitted-out, ‘TMT’ style office accommodation with an interlinking private staircase. There was c.7 years remaining on the existing lease.
Newton Perkins undertook a highly successful marketing campaign which led to a significant number of inspections and subsequent interest on the basis of an assignment.
We entered into negotiations and agreed terms with a well-known personalised/bespoke retailer before the prospective tenant’s corporate activity led to abortive negotiations. We then introduced Groupon within 3 weeks of the abortive negotiations and agreed terms for an assignment shortly thereafter.
A premium rent and saving on the likely dilapidations bill was achieved, as well as a below market rent free period.
In total, Newton Perkins successfully saved its client approximately £20 million.