Tata Communications is a global provider of telecommunications solutions and services. The $2.9bn company which is headquartered in Mumbai and Singapore, has 8,500 employees across 38 countries and is part of the $103.3bn Tata Group. Its telecommunications network spans the globe and includes more than 500,000 km of subsea fibre and more than 210,000 km of terrestrial fibre.
Background
TATA Communications wished to relocate its business operations from London Docklands to a more central location in the City of London. The brief was simple; find as much office space as possible in the best possible location and for the least cost possible!
Market research enabled McCalmont-Woods to quickly identify a number of properties which supported the business case for relocation to circa 15-20,000 sq ft. A shortlist of potential options was drawn up and detailed cash-flows prepared on each building with heads of terms negotiations commencing on Tata’s preferred property option shortly thereafter. Final terms were agreed and Board approval obtained to relocation within four months from the date of McCalmont-Woods’ appointment.
Outcome
McCalmont-Woods successfully concluded negotiations to acquire 18,685 sq ft offices for TATA Communications at 20 Old Bailey, EC4 on a new sub-lease from Accenture at a deep rental discount and with an extremely competitive rent-free period.
Since the premises benefited from an existing high-quality office fit-out which included meeting rooms, two comms rooms and kitchen facilities (effectively providing ‘plug & play’ offices with circa 160 desks and associated office furniture in-situ ready for immediate use) Tata Communications was able to provide its employees with the perfect workplace environment in terms of functionality and amenities.
Fionnula Bentley, HR Director
“The offices we finally settled on are fantastic value for money and provide an ideal environment for our employees. I honestly do not believe we would have found our new Central London location and been able to present such a strong business case to the board without Nick’s assistance.”
