Negotiation of reversionary lease terms delivering a 10-year lease with a tenant-only break at year five, with a strong tenant incentive package.
Negotiation of reversionary lease terms delivering a 10-year lease with a tenant-only break at year five, with a strong tenant incentive package.
McCalmont-Woods first represented Trinity Lifetime Partners Limited on the acquisition of a new 10-year lease on its 3rd floor offices in Royal Exchange Buildings, adjacent the Bank of England and Royal Exchange, when the business had been trading for just over twelve months as a new JV start-up specialising in wealth management.
The resultant downturn in the property market caused by the global pandemic ensured there would be no increase in rent at the fifth-year rent review and then prior to lease expiry, McCalmont-Woods negotiated the grant of a new reversionary lease ensuring that the business would benefit from continuity of operations for another ten years, subject to an early tenant break option.
Prior to the grant of the new lease, it was agreed that the landlord would, at its own expense, install a new air-conditioning system at the premises.