Sony Subsidiary Secures New Office on Market Beating Terms

5,485 sq ft – 67-74 Saffron Hill EC1

We were engaged by Sony to find and acquire new media style offices for the one of their
subsidiaries, working within a strict budget. This would represent the first independent office for the subsidiary, meaning that additional support would need to be provided throughout the process.

We worked with the client to create a tailored property brief that met the client’s target parameters and
implemented a property search that encompassed the Midtown, King’s Cross, Clerkenwell and
Farringdon office markets.

Following multiple rounds of viewings, negotiations were entered into for three shortlisted options,
ensuring that the client maintained a strong bargaining position.
Cost appraisals were carried out to facilitate the client’s decision making, following which Hallett
negotiated a market beating letting package for the chosen property.

Cost Benefit 
Hallett negotiated market beating terms, that included:

total negotiated savings equated to c. £491,847 over the course of the lease.

a 24% discount from the Landlord’s quoting rent.

a 9 month rent free period.

following a check floor area measurement survey, a reduction in the floor area used for
calculating rent and service charge payments.

a commitment from the Landlord to carry out various remedial works prior to completion of the
lease, at the Landlord’s cost.