Mayfair-based retail property agent Capital Retail wanted a flexible leasehold package which would allow further expansion and growth of the company. The firm wanted the best deal possible in London’s West End.
After an appraisal of Capital Retail’s spatial requirements, Bray Fox Smith drew up a list of suitable properties within the client’s area of preference. After extensive market research, we conducted a number of property viewings with the client.
We made sure that Capital Retail could trust us to get them the best possible deal in the market. We negotiated a 2,600 sq ft office space at 1, Maddox Street with landlord Aberdeen Property Investors and securing this prime location on the corner of Regent Street was our first success in the assignment.
We negotiated the rent and brought it down from £47.50 per sq ft to £42.50 per sq ft and in addition, got them 13 months’ rent free against a market average of 10 months. With these terms, we saved our client around £200,000 over their first five years. The lease term was fixed at 10 years, with a break option at year five.
Richard Criss of Capital Retail comments: “Bray Fox Smith advised us on our office requirements and using their expertise in the commercial property sector in the West End, negotiated and sealed a good deal for Capital Retail.”
Capital Retail is a well-established name in retail agency and investment, with high profile clients such as Sainsbury’s and ING Real Estate. Their trust in Bray Fox Smith speaks volumes about our team’s expertise.