Castle Metals Aerospace

The challenge

Castle Metals Aerospace, a US based leading supplier of specialist metals to the aerospace industry with several operations in the UK, reluctantly needed to relocate to new premises urgently. Their existing building in Letchworth was being sold by their current landlord and they needed us to find for them around 40,000 sq ft of industrial space, quickly. The new premises had to be sourced, lease terms agreed and completed within 4 months.

The solution

Bray Fox Smith understood their client’s needs; undertook an urgent and extensive property search within the designated area; arranged a tour of suitable options and negotiated terms on two preferred options.

The result

Castle’s existing landlord eventually asked that they stay in their current building and offered terms for a lease renewal. This was always the best option for the client as the building had been built for them 11 years previously, and so Bray Fox Smith were retained to negotiate the new lease.

Having looked at the detail of the previous lease, the new proposed lease, highlighting various issues in respect of both landlord & tenant and market facing packages, we were able to negotiate the very best terms available for our client.

Our clients were able to stay in the building that they really preferred, and benefitted from £250,000 rent saving over a 10 year period, plus a capital contribution from the landlord for additional works to the building. The lease was for a term of 10 years and had a tenant only option to break at year 5.

Jane Robins, retained agent acting for Castle in the US commented:
‘I cannot tell you how pleased I am to have selected you. The client was very happy with your professionalism and promptness to their requirements. It has been a pleasure working with you. Please know that if any other opportunities arise, you will be my first call.’