PBE Group are a mining manufacturing and technology company established in 1971 and they have 12 offices around the world. The new London office was scheduled to be their new corporate HQ.
The original brief was to identify and acquire between 1000 and 1500ft2 of good quality offices on a single floor in the King’s Cross or Euston area. The requirement was for a flexible lease to incorporate an option to break the lease after 3 years. They selected this location on account of the cost being lower than the central core and as a number of their staff come into Kings Cross.
The challenge was made difficult as there were very few available right sized options in Euston and King’s Cross to satisfy the requirement. Despite viewing several options early on in the search, nothing suitable was found. The challenge was exacerbated by some landlords insisting on unacceptably long inflexible lease terms, hence not meeting their criteria.
So we decided to explore other nearby locations which could satisfy PBE Group in terms of size, quality, lease terms and transport communications. Good access to Euston and Kings Cross was still critical.
The outcome was extremely satisfying for Find a London Office and our client.
We identified an off-market opportunity at the northern end of Great Portland Street, just 100 yards from Marylebone Road and Great Portland Street Underground station, so transport connectivity to Euston and Kings Cross was ideal.
Terms were agreed and as soon as contracts were exchanged, we negotiated for the Landlords to refurbish the office and to fully incorporate our clients personal fit out requirements. When works were finished (on time!), the lease completed and our clients moved in. We were able to negotiate exactly the lease our client required, i.e. a 5 year term with a tenants option to break on the 3rd anniversary. Rent free was negotiated for the tenant both at the start of the lease and we negotiated more rent free at the beginning of the 4th year if our clients elect to remain in occupation.
PBE Group can be found at 201 Great Portland Street, London W1
What PBE Group said...
Find a London Office worked diligently and with great patience in our search for a London based office, having been given the task to source our new office and with very limited information and experience they guided me through the whole process. They ensured our journey from start to completion was seamless, providing me with clear concise information that met our ever changing needs.
Stephen Weitzmann worked above and beyond what my CEO and I expected, a great professional, efficient yet personal service where he ensured the properties he offered met our requirements, following through on every detail and giving in-depth assistance and guidance. Always readily available where needed, with prompt, efficient and knowledgeable advice.
I cannot fault their service at all and would strongly recommend Find a London Office.Helen Amer
Photo of Great Portland Street Tube Station by Portlandvillage (2011)