Business Process Outsourcing company Woven has benefitted from £640,000 savings in rent following the successful completion of the rent review on its Bristol office.
Advised by McCalmont-Woods, the revised rent agreed on Wyndham Court, a 30,000 sq ft self-contained office building located in the St.Paul’s area of the city, is equivalent to circa £17.52 per sq ft based on a ten-year term as at the 2nd March 2020 review date.
Across the whole of the Bristol office market in 2020 only three leasing transactions were larger than the hypothetical letting with an average deal size of 6,655 sq ft over 76 transactions. And, with prime office rents for Grade A space of between £35.50 per sq ft to £37.50 per sq ft as at Q1 2020, the new rent agreed provides our tenant client with an excellent outcome.
