Acting on behalf of an international biotechnology company, Hicks Baker has demonstrated how occupiers can reduce their operational property costs without moving.
Hicks Baker acquired an additional 2,047 sq ft on behalf of the client in a Grade A Maidenhead town centre office building as part of a planned expansion of its UK head office. The company, who already occupied 8,000 sq ft in the building, has taken over one of two floors previously occupied by another occupier who downsized into a smaller suite. The acquisition of the additional space ran in parallel with negotiations undertaken by Hicks Baker re-gearing the previous lease.
Taking advantage of a pre-existing negotiated 5 year lease break, a significantly reduced rental was agreed and further incentives were conceded by owner. According to Hicks Baker’s calculations, the company will achieve an X% saving on occupational costs the revised lease terms reducing their property overheads by around £Y over the next 5 years.
For further information on how Hicks Baker’s advice might help your company achieve substantial savings and operational costs without moving, please contact Stephen Head or Peter Fry.
