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Case studies

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Alongside joint agents Bluebook and Pilcher Herschman, Tuckerman were instructed by Derwent London to advise on the redevelopment and marketing of the 39,000 sq ft Francis House on Francis Street in Victoria.

In mid-2021, following a single development and pre-marketing meeting, Tuckerman identified a local occupier – Edelman – for whom we thought the building would suit ideally, and made an approach via their agent, CBRE. Although the builders were not yet on site at that time and we had no marketing collateral beyond floor plans, we showed them around on a couple of occasions, including with the key decision makers. Edelman issued a request for a proposal from Derwent, following which were able to reach agreement on terms for a 15 year lease with 10th year Tenant break, and at a rent of just shy of £3,000,000 per annum. The deal completed in June 2022, post completion of Landlord Works.

In securing this pre-let our client was exposed to zero marketing void whilst also achieving a rent in excess of the book value of the building, and to a tenant that very much appreciated and valued and embraced the quirks and character of this outstanding building”.

For further information please contact Guy Bowring.