Having handled the acquisition of BYM Capital’s Mayfair office, we were introduced to Arena Investors, friends of BYM.
Arena Investors are presently based in office space on Grosvenor Street, where they occupy a smaller-than-needed floor plate, on a short-term lease, initially to facilitate their expansion.
With the growth of their business and headcount Increasing, it was clear that the existing space was simply not fit for purpose and, with a lease expiry at the end of the year, it made perfect sense to take the opportunity to relocate to better, more suitable offices nearby.
Having undertaken a comprehensive search of the market – of which, despite the speculation surrounding the smaller, conventional office market in Central London, there is not a significant amount of space available – we were able to identify first-floor office space at Brookfield House, 44 Davies Street, as the most suitable option for our Clients.
The building is owned by Grosvenor and currently has long-term plans to be redeveloped, therefore, with Arena deciding it was their preference to pursue, we were able to negotiate extremely advantageous terms for very good quality office space in a prime Mayfair location.
**Often, in situations where a Landlord has plans to redevelop their building in the near future, and face vacant space, extremely advantageous financial and lease terms can be negotiated on behalf of the Tenant; including severe rental discounts, as well as limited to zero dilapidations liabilities.