Working closely with the client, their architect (Ben Adams Architects) and wider development team, we assisted in the design of a superb scheme, which made the best of all aspects of the existing building and minimised the impact of natural limitations of the building. Particular design items of note included 10 roof terraces and exposed services, making the most of the otherwise limited floor to ceiling heights.
We commenced a targeted pre-let campaign with strong marketing collateral, which culminated in a number of lines of enquiry. Two weeks prior to practical completion of works, we exchanged contracts with The Corporate Officers For The House of Commons on a 20 year lease at an annual rent of £3,395,000, providing an outstanding result for our client.
They subsequently sold the building at a yield of sub 3.7%, securing a stronger return than even their most ambitious expectations.
Tuckerman have since acquired other sites for this client and continue to provide strategic development advice.
Following completion of the letting, our client commented “Guy and team were on hand throughout to help all the way from the initial design stage, through the refurbishment and then were extremely helpful during the marketing and letting stage. Having secured the House of Commons as the tenant at 21 Dartmouth Street, I couldn’t praise them highly enough for their success and we would recommend them to anyone.”
