Leasing Case Studies

New Brook House, Great Queen St. London WC1

Bearing Point are an International Management and Technology Consultancy with offices in 15 countries across Europe, Middle East and Africa. Cyril Leonard were instructed to identify buildings with 8,000 sq.ft on a single floor in either a Mid-Town or City location on a flexible lease where the liability could be terminated after 3 years at minimal cost. In addition, the space needed to be ready for occupation within 5 months.

Cyril Leonard made a direct approach to an International Law firm who 9 months earlier had entered into a pre-let of 50,000 sq ft in a new development in Mid-Town and were 12 weeks away from completing their Cat B tenants fit-out leaving one floor in shell and core intended for their future use.

Cyril Leonard agreed terms on an entire floor of 8,000 sq ft where the lessor agreed to undertake and fund the tenants substantial fit-out including high quality glazed partitioning and cabling with no recourse for reinstatement on expiry of the lease term. Terms were agreed to incorporate 3 monthly rolling option to terminate the lease after 3 years.

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