Location
Soho
Size
8,700 sq ft
Transaction Type
New lease acquisition and disposal
How Did Rebase Add Value?
Rebase provided Stonepeak with a comprehensive list of options in a tight supplied market through direct approaches into Landlords and developers. The business objectives were to take more space than initially required to manage uncertain future expansion, whilst subletting surplus space to mitigate initial costs.
Result/Outcome
We sourced a premises in one of the most prestigious West End buildings on Golden Square (Soho). Rebase then found an off-market tenant to offset surplus premises and costs, saving Stonepeak c. £1.5 million and securing future expansion in line with their brief.
We acquired a larger floorplate than we immediately required to accommodate future expansion plans. We engaged Rebase to dispose of the extra space.
From the first meeting, Rebase not only outlined our options but – crucially – gave clear advice on the implications of each and recommended a route forward: subletting once fitted. The subletting strategy Rebase prepared was detailed and concise, giving us a clear picture of what needed to be done, when it needed to be done and the costs associated with each step. The guidance they provided on the achievable terms proved to be accurate.
Throughout the subletting process Rebase continued to be engaged and proactive in their work, actively seeking solutions to issues ahead of their arrival. Their work ultimately resulted in a subletting immediately upon completion of the fitting works with no void. We have not only mitigated the additional cost of the surplus space but are profiting from it.
When considering a partner to work with on our office strategy we considered a mix of large corporates and tenant-focussed niche agencies. We chose to work with Rebase because of the strength of their team, proactive approach, and their accountability when advising us.
