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Case Study

A Workplace solution for Regus

A workplace solution for Regus

Acquisition of 42,000 sq ft at Crown House, Hammersmith

 - Workplace solutions company Regus faced a lease expiry on tired, cramped space at Crown House, Hammersmith
 - Regus needed to satisfy increasing customer demand, whilst also protecting themselves against potential economic market contraction
 - Jones Lang LaSalle initially took steps to protect the existing lease, whilst an alternative site was secured, following this with a search for viable alternatives including a pre-let development opportunity 
 - In tandem, negotiations were held with the existing landlord to see if larger, better quality space could be taken within the building, and terms were agreed on 42,000 sq ft on a ‘turnover rent’ basis
 - The landlord now receives rent and also a share of workstation income, based on the success and occupancy level of the centre
 - In return, significant building improvement works were carried out - including creating a new entrance – completing these prior to Regus taking occupation, allowing them to trade during this refurbishment with minimal disruption
Regus has high occupancy at Crown House here and has retained lease flexibility and financial control on property overheads

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