Sir Richard Sutton Settled Estates
GN2 have acted for this private Family Settled Estate for over 15 years and have advised on the refurbishment of a former workhouse building in Soho to create circa 30,000 square feet of top quality office accommodation. We are currently advising on several renewals and lettings some 10 years after the initial marketing. We are also advising on several nearby properties in Soho including refurbishment and potential re-lettings.
On behalf of Palmer Capital Partners, we advised on the May 2015 lease renewal on the top floor of this landmark building. Interestingly, we were able to negotiate a new 10 year reversionary lease back in November/December 2014, which enabled the Client to lock into current rentals and guarantee their future occupation.
On behalf of IDEO LP we negotiated a rent review against Standard Life. We agreed the June 2014 rent review in a timely manner as we were particularly concerned with the rapid escalation in rental values in the surrounding area. Rents have now reached £67.00 to £70.00 per sq ft and we are very pleased to have been able to agree a more historic rental level.