Lease renewal negotiated for Prospero Group at 15 Worship St, Shoreditch
The Background
In November 2015 we acquired a great warehouse style office for Prospero Group Ltd at 15 Worship St, just north of Finsbury Square. At the end of 2019 we were asked to re-assess our client’s office needs and advised them on the commercial terms for a lease renewal.
The Brief
We were asked to search for other opportunities throughout Clerkenwell & Shoreditch to make sure Worship St remained the best option.. We were also asked to consider an alternative strategy of taking a number of satellite offices, as opposed to a large central London hub.
The Challenge
We went in to negotiate direct with the landlords, the City Corporation. They were approachable and well informed and to be honest, a mutually beneficial lease renewal was agreed very easily. Solicitors were instructed in February 2020.
Then we were hit by the Covid-19 pandemic in March! The world was turned upside down and the deal was parked for a while. I think it is fair to say the commercial terms needed to be tweaked slightly, in order to provide the tenant with a little more flexibility going forward.
The Outcome
The renewal ultimately signed in November and Prospero will continue to trade from these high quality offices in Shoreditch, an area set to buzz again in 2021.
The Location
Prospero Group Ltd can be found at 15 Worship Street, London EC2A 2DT
What Prospero Group Ltd said...
Prospero Group Ltd
We have used Ian Kitchener of Find a London Office on many occasions to negotiate our office leases. He finds great space and helps us negotiate really good deals. I would not hesitate to highly recommend the Find a London office team!
Robert Grays
We would have no hesitation in recommending Find a London Office
Risk Analysis
