BNP Paribas Real Estate provided lease advisory, asset management and agency expertise to Grafton Advisors for Southside on 105 Victoria Street, London.
The occupier’s lease was held inside the security of tenure provisions with an imminent expiry date. This could have led to a complicated legal process to secure vacant possession at a proposed block date, potentially resulting in significant costs and void exposure.
We provided market advice for the re-letting of the accommodation and rents achievable on a short-term basis. We also progressed the pending lease renewal at an early stage. Successful negotiations led to securing the building’s occupier on a term certain to the proposed block date, and agreement to remove the tenant’s security of tenure rights.
Richard Gaherty, Senior Director, Lease Advisory
“We delivered intelligent professional advice to the client across lease advisory, asset management and agency.“
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