Ultimately, we were able to agree a regear on 18,000 sq ft of Moet’s existing leases, ensuring they did not operate the break, whilst also leasing them the refurbished second floor at a then-record rent for the building. Whilst we had looked forward to bringing such high quality space to the market, our client was delighted to have retained Moet withing the building and avoided a potentially substantial rental void.
A refurbishment is presently underway on the 4th and 5th floors. With improving market conditions we are hoping to secure record rents for Grosvenor Gardens on this space.
Tuckerman acted for Grosvenor and Colliers acted for Moet.