Having let the 18,818 sq ft 4th floor of 16 Palace Street to Polar Capital in an off-market letting in 2014, Tuckerman were instructed in 2023 to engage in regear discussions with Polar Capital.
Polar had approached Landsec 12 months in advance of their expiry, advising of their need for additional space. Through close liaisons with other occupiers in the building, we agreed terms for a partial surrender of 7,000 sq ft of the 3rd floor tenant’s space and the simultaneously granting of a new lease to Polar, coupled with a reversionary lease on their existing 18,818 sq ft 4th floor space.
Strong rental terms were agreed on the basis of a new 10 year commitment from the occupier. Both occupiers and client were delighted with the result.
