Stroudwater Business Park
Dentsply had a lease expiry approaching on their hybrid office / warehouse facility. The clients business operations had changed, and as a result the first floor offices were surplus to requirements. Cushman & Wakefield provided a range of property advice, and significantly reduced the clients occupational costs.
Cushman & Wakefield carried out a search of the market for alternative smaller premises, whilst simultaneously seeking to negotiate reduced terms at the existing property.
- Providing combined agency and lease advisory services.
- Availability search and appraisal of existing and new build options.
- Ongoing market advice.
- Lease renewal negotiations and Landlord & Tenant Act advice.
The objective was to reduce the clients occupational costs as a result of changes to their business operations.
- Lease re-gear at existing premises.
- Lease term reduced from 15 years to 5 years, to provide client flexibility to review in the medium term.
- 37% rental reduction.
- Secured ability to sublet surplus offices.
- Continued occupation of high quality premises.