Case Study
Crewe Toll East and Crewe Toll West, Edinburgh
BNP Paribas Real Estate assisted Leonardo on the renegotiation of rent terms at the Crewe Toll East and Crewe Toll West sites in Edinburgh, leading to £10 million in savings.
The challenge
The site was split with multiple landlords and under separate leases. The client required guidance on agreeing revised rents and coterminous lease terms that would generate maximum rent savings.
The solution
We provided professional advice for the master plan that included the regear of 400,000 sq ft of buildings and a car park. We coordinated complex, successful negotiations between two institutional landlords, which led to the tenant securing millions of savings in rent.
“Our Scottish office added significant value to our client’s profitability by negotiating a regear of two new interposed leases held by the head landlord Brockton Capital; a variation to the two leases held by the tenant combined with an assignation and a lease extension of the car park site.“
Crewe Toll East and Crewe Toll West, Edinburgh