Publicly Listed Tech Firm Secures New UK HQ in Statement Building

Netcompany

10,500 sq ft – 33 King William Street, EC4

10,500 sq ft – 33 King William Street, EC4

Hallett was instructed by a publicly listed technology firm to source its new UK headquarters.

The HQ would need to be in a statement building located in an area with excellent transport links and local amenities. The preference, to save time and capital expenditure costs, was to lease premises with a fit-out already in situ.

Hallett worked with the client to develop a thorough search brief. The brief was modified over time as the needs of the business changed in light of growth in headcount and new client contracts.

A broad property search was implemented covering the King’s Cross, West End, Midtown and City of London office markets and negotiations were entered into for a number of shortlisted options.

Terms were agreed amongst stiff competition for a fitted-out floor in a new statement building, 33 King William Street, overlooking the River Thames. The building was owned and part occupied by Wells Fargo, meaning that the security arrangements were already in line with the client’s strict criteria. 

Cost Benefit 

Hallett negotiated a new lease that included:

• flexible terms including a 5^th year tenant only break option
• a discount from the quoting rent
• a 25 month rent free period over the 10 year term
• agreeing that the client’s dilapidations liability would be reduced by way of a Schedule of Condition
• total negotiated savings equated to over £1.8million over the course of the lease.