The client is NewVoiceMedia, a specialist cloud-telecoms software developers. I helped them move from a small farm building to an office in Basingstoke where over ten years, the company grew from 30 people occupying one area of 3,330 Sq. Ft to 275 people in eight areas totalling 27,000 Sq. Ft. As they grew, the shortcomings of the space and the building became more apparent and something needed to change.
In acquiring each new lease, I made sure the lease expiry date or a break option brought all eight leases to an end on the same date.
Because this meant the company could “up-sticks and leave” and because it occupied 30% of the floor space, we had the attention of the landlord. He stood to lose well over half a million pounds in rent and service charge plus he would soon be picking up the rates. NVM also had other landlords and agents interested in them as new tenants for their vacant space.
The cheaper option was to stay where they were, moving other tenants around so they had one large block, still in a multi-occupied building, and with a modest increase in rent. Cheaper but far from the best outcome.
The better option (and only slightly more expensive) would be to acquire a self-contained building where NVM could control everything.
I found such a building, negotiated the lease to include the replacement of the heating and cooling plant, along with naming rights on the building – NewVoiceMedia House – and a raft of other terms that all added up to an irresistible deal.