Cluttons agrees rent review of Grade A office in the City of London

Cluttons were instructed to act on behalf of a charity client in respect of a rent review of a Grade A office property, measuring 22,000 sq ft, located above Fenchurch Street Station in the heart of the City of London.

Through a detailed understanding of both the City of London office market and the market impact of the Covid-19 pandemic, Cluttons were able to negotiate and agree a rent reflecting an 83% reduction on the Landlord’s quoting proposal and an annual saving of £175,000, £875,000 over the remaining term of the Lease.

Our role included:

• A full inspection of the property alongside a comprehensive review of the local market and transactional evidence.
• Providing recommendations in respect of rental value and strategic approach.
• Negotiating on behalf of the client through to completion.