TRILLENIUM PARK

Challenge

To market the remaining 3 year leasehold interest in a modern 36,000 sq ft Warehouse / Production unit, on behalf of our client (the existing tenant). The key aim was to mitigate our client’s liability by securing a sub tenant in the shortest time frame possible, at a rent no less than passing, with minimal incentives granted.

Strategy

• Implement marketing strategy highlighting short term leasing opportunity
• Identify suitable occupiers seeking modern premises
• Negotiate proposed sub-lease with the superior landlord, head lessee and ingoing tenant
• Preparation of Heads of Terms
• Instruct lawyers and oversee legal process to completion

Outcome

On behalf of our clients, we successfully sub-let the premises for the remainder of the term on a Full Repairing and Insuring basis at the passing rent, to Woodall Transport. Occupation of the property was taken by the new tenant within less than a month of it becoming vacant, significantly minimising our client’s liability.