Tower Limited Partnership

Case Study

Tower Limited Partnership

The iconic Tower 42 was originally constructed in 1976 for Nat West Bank. The Tower, reaching a height of 183m was built as the tallest skyscraper in the City, and retained this title until 2011.

The wider Tower 42 Estate, including the adjoining properties, comprises over 500,000 sq ft across 2.2 acres.

The BNP Paribas Real Estate Building Consultancy team act as Landlord Representative for the Estate. We maintain the Tenant’s Fit Out Guide, review and approve Tenant’s License to Alter packages and manage the compliance of lease obligations to protect our client and their asset.

Our role includes preparation of Interim and Terminal Schedules of Dilapidations across the Estate, negotiations of settlements and management of associated works. We prepare demise plans, Schedules of Condition and Specifications which are attached to Heads of Terms and new Leases and advise on refurbishment strategies across the Estate to maximise our client’s Dilapidation settlements and rates relief.

What was our approach?

As part of our role, we work closely with the client, their asset managers, property managers and in-house building management team.

We assist Tenant’s design teams to overcome some of the challenges of the buildings unique design.

Pre-start and regular follow up meetings are held with Tenant’s to streamline the LTA approval process and mitigate delays to lease negotiations for our client.

Results achieved & added value

Our 17 years of experience working across the Tower 42 Estate has given us extensive knowledge of the buildings and a concise understanding of our client’s needs.

We provide a fast response to client instructions, preventing delays at lease negotiation stage to maximise our client’s profitability.

We add value to our client, by collaboratively working with the letting agents, asset manager, lawyers, and in-house teams to deliver a property strategy that minimise voids.

We are dedicated in protecting the fabric and performance of our client’s asset.  This is increasingly important as the client implements their ESG strategy and removes fossil fuel heating.

Tower Limited Partnership