123 victoria street 372804 extL

Case Studies

123 Victoria Street, London, SW1


In 2018, Tuckerman were instructed, jointly with Savills, by LandSec to advise on the refurbishment and marketing of the first (7,600 Sq Ft) and second floors (9,642 Sq Ft) at 123 Victoria Street, SW1. The units had been previously occupied by Intuit who were relocating to another LandSec office at 80 Victoria Street. Rather than strip out all partitioning and return the floors to Cat A, it was decided to adapt, rather than replace, the existing fit out and offer the floor to the market in a “Cat B+” condition, including cabling, fit out and furniture.

With assistance of some good CGIs, we commenced a thorough pre-let marketing campaign which was successful in securing two lettings, each of which completed prior to practical completion of the works. The first letting was of the first floor to Gemfields at a rental of £75 PSF, and the second to Instant Group on a new five year lease at £76.50 psf with 6 months rent free.

The “Cat B+” offering was the first time this has been trialled by LandSec in Victoria. The successful pre-letting of both floors has resulted in a similar concept being rolled out in other LandSec buildings across central London as an alternative to their standard Cat A and also Myo offerings.

Alexandra Chitty of LandSec commented “Tuckerman are a real pleasure to deal with. I was fortunate to work with Guy on a complex and difficult letting recently, where I was given a great amount of support and advice throughout all stages of the negotiation and legal discussions. Always at the end of the phone, the deal simply wouldn’t have completed without his skill and ability to move discussions on.”