Private Equity Firm Saves £450k in Costs by Downsizing

4,612 sq ft – 2 Park Street W1

Hallett was instructed by long standing clients to help downsize to more suitable sized offices.
Following the adoption of hybrid working, staff were only coming into the office two or three days in
the week. This presented an opportunity to downsize to smaller offices that would not only enhance
collaboration but also generate considerable savings.

The client’s lease was due to expire in less than 2 years, which meant that the project would need to
be completed quickly in order to capture meaningful savings. After working with the client to formulate a disposal strategy, Hallett implemented an intensive and effective marketing campaign that led to two parties bidding for the space, ensuring optimal deal terms could be achieved.

Particular care had to be taken to avoid disruption, working around the client’s annual investor
meetings. Hallett was able to agree an assignment of the clients existing lease within 3.5 months of gaining instructions.

Cost Benefit 
Total savings, including new office costs and calculated up to the client’s lease expiry, equated to c.
£450,000.

Simon Millerchip – CFO, OpCapita
We have worked with Luke on multiple office projects. He has always been adept in creating
leverage, capturing tenant opportunities, and executing negotiations for our organisation. His financial
analysis of various leasing scenarios has also been valuable in helping our Board in its decision
making. Overall, excellent service.