Davis Langdon
Cluttons was instructed by Davis Langdon to acquire a new London headquarters.
Following the search focussed on Midtown, terms were agreed for the acquisition of 40,000 sq ft within MidCity Place, 71 High Holborn.
In addition to negotiating a two year rent free period, a fixed increase was agreed in relation to the first rent review after five years which achieved a rental saving of over 30% compared to the figure that would have been payable on an open market basis.
Since then, in order to meet operational requirements, various disposals and acquisitions within the building have been completed involving over 50,000 sq ft by way of underletting, assignment and surrender.
In the last 12 months accommodation of 8,000 sq ft has been underlet short term and a rent review is now in hand on behalf of Davis Langdon with an existing undertenant.
Cluttons has been advising Davis Langdon, the UK's leading cost consultant, on its London office accommodation for over 20 years.
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