Project Introduction

Daniel Watney were instructed by our client to find an occupier for the ground and lower ground floors as the former tenant exercised their break option in June last year. The building consultancy team subsequently undertook a refurbishment of the premises and the agency team began the marketing process soon after.

Exploiting the Class E use class, we marketed the property to a variety of occupiers. Ground floor showrooms are becoming increasingly desirable in the Clerkenwell submarket and we therefore honed in on the retail market to secure a swift letting for our client.

We conducted several viewings with an interested party before negotiating/agreeing terms and assisting solicitors with the drafting of the lease.

Result

Daniel Watney let the ground and lower ground floors (1,802 sq. ft) to Bespoke Cycling Limited, a high-end bicycle shop specialising in bespoke premium road bikes. We secured a strong deal for our client at a market rent with no rent free period granted. The time between the first viewing and the completion of the lease was 4 weeks - a quick turnaround which delighted the Landlord. The property is now fully let and managed by our commercial team.