LIGHT GREEN DARK GREEN DARK GREY Central London …...Tenant Representation Page 2 The Central...
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Central London Tenant Representation
Transcript of LIGHT GREEN DARK GREEN DARK GREY Central London …...Tenant Representation Page 2 The Central...
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
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RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
Central London Tenant Representation
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
CO
NT
EN
TS
Central London Tenant Representation
Contents
1 Economic Outlook
2 The Market
3 Central London Tenant Representation
4 Our Approach
5 Flexible Office Solutions
6 Track Record
7 Global Coverage & Contacts
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35
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Economic Outlook
Central London Tenant Representation
Page 2
The Central London economy is forecast to grow at an average rate of 3.0% per annum over the next 3 years, outperforming the UK as a whole (2.36% per annum). This is
broadly in line with the growth trajectory of London since 2012, and represents a stable economic environment in which occupiers can transact. However, there are
emerging headwinds in the global economy (notably the slow-down in China and further falls in oil prices) that may negatively impact the economy over the next 12 months,
together with a range of local and international socio-political pressures that have the potential to change the economic tide.
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2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Central London Gross Value Added (GVA) United Kingdom Gross Value Added (GVA) Global (GDP)
Source: Central London & UK data = Experian UK Regional Forecasts Quarterly, 2016
Global = IMF World Economic Outlook, 2016
Note: Gross Value Added (GVA) is identical to GDP except that it is measured in basic prices.
These prices do not include taxes and subsidies imposed by the Government.
Global data series relates to GDP rather than GVA
Global Financial
Crisis leading to
recession
UK referendum on EU membership
London Mayoral Elections
US Presidential & Congressional Elections
London airport expansion potentially decided
Central section of
Crossrail to begin
services
US mid-term
Congressional
Elections
UK General Election
London Mayoral Election
US Presidential & Congressional Elections
Northern Line extension to Nine Elms & Battersea
scheduled to commence
US mid-term
Congressional
Elections
German
Bundestag
Elections
Entire Crossrail
route scheduled
to be operational
German
Bundestag
Elections
Pe
rce
nta
ge
(%
)
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Office Market Conditions
Central London Tenant Representation
Q1 2016
Page 4
ACTIVITY LEVELS
Consistently above average for almost two years; focus on new and refurbished space in the Core and Fringe markets.
Strong demand from all sectors, with significant financial sector requirements in the pipeline.
SPACE OPTIONS / SUPPLY
Vacant stock now at lowest level since Q2 2001, with 10.06m sq ft available to lease.
Levels now 55% below the peak levels in 2009 and 42% below the beginning of 2013.
Construction activity at its highest level since 2007, although 50% is already pre-let.
Supply of new and refurbished space in the Core remains almost 50% below average.
RENTAL COSTS
Prime rents continue to increase – City rents were up 12.0% during 2015 to £70.00 per sq ft, a new record, whilst West End rents have increased by 7% to £115.00 per sq ft.
Continued strong growth anticipated in 2016; City rents expected to reach £77.00 per sq ft, whilst West End rents are predicted to climb to £117.50 per sq ft.
Prime City rents expected to reach £80.00 per sq ft by 2019, as West End rents are due to reach £122.50 per sq ft.
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DARK GREY
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RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Market Balance We are forecasting rental growth across all Central London office submarkets. This is predicated on a lack of supply in the short to
medium term with consistent levels of demand and take-up from occupiers. We may see a slowdown in rental growth by 2019 due to
greater supply being introduced to the pipeline.
Central London Tenant Representation
Page 5
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Chart Title Availability Take-up City Prime Rent West End Prime Midtown
m s
q f
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RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Submarket Rents: 2009 2009 represented the bottom of the previous rental cycle due to oversupply from speculative development and a complete lack of
demand due to the global financial crisis. Prime City rents slumped to £42.50 per sq ft, whilst prime West End rents were as low as
£65.00 per sq ft.
Source: Knight Frank Research
Central London Tenant Representation
Page 6
Greater than £120.01
£110.01 - £120.00
Up to £40.00
£100.01 - £110.00
£90.01 - £100.00
£80.01 – 90.00
£70.01 - £80.00
£60.01 - £70.00
£50.01 - £60.00
£40.01 - £50.00
Rent per sq ft
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Submarket Rents: 2016 Prime City rents are now at an all-time high in Q1 2016 at £70.00 per sq ft, as are prime West End rents at £117.50 per sq ft. This is
due to restricted supply across all size bandwidths and strong levels of occupier demand, particularly from the technology, media and
telecommunications (TMT) sector.
Central London Tenant Representation
Page 7
Greater than £120.01
£110.01 - £120.00
Up to £40.00
£100.01 - £110.00
£90.01 - £100.00
£80.01 – 90.00
£70.01 - £80.00
£60.01 - £70.00
£50.01 - £60.00
£40.01 - £50.00
Rent per sq ft
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Rental Growth Projections: 2016
Central London Tenant Representation
Page 8
PADDINGTON
2.3%
NORTH OF MAYFAIR
2.6%
NOHO
2.9%
SOHO
3.0%
STRAND
3.4% W.E CORE
2.2%
VICTORIA
3.2%
SOUTHBANK
8.0%
CITY
7.1% ALDGATE/
E1
9.1%
KING’S CROSS
3.2% SHOREDITCH
10.0%
MIDTOWN
9.6%
CANARY WHARF
12.8%
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Rental Growth Projections: 2017
Central London Tenant Representation
Page 9
PADDINGTON
2.3%
NORTH OF MAYFAIR
2.6%
NOHO
2.9%
SOHO
2.9%
STRAND
2.7% W.E CORE
2.1%
VICTORIA
2.5%
SOUTHBANK
3.7%
CITY
4.0% ALDGATE/
E1
6.7%
KING’S CROSS
2.5% SHOREDITCH
4.9%
MIDTOWN
5.4%
CANARY WHARF
9.1%
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Rental Growth Projections: 2018
Central London Tenant Representation
Page 10
PADDINGTON
2.9%
NORTH OF MAYFAIR
2.5%
NOHO
2.8%
SOHO
2.9%
STRAND
1.3% W.E CORE
2.1%
VICTORIA
1.2%
SOUTHBANK
2.9%
CITY
1.9% ALDGATE/
E1
5.5%
KING’S CROSS
2.4% SHOREDITCH
3.3%
CANARY WHARF
7.3%
MIDTOWN
1.9%
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Submarket Rents: 2019
Central London Tenant Representation
Page 11
We are forecasting prime rents across Central London to reach a record high by 2019 at approximately £80.00 per sq ft in the City and
£122.50 per sq ft in the West End. This will be driven by a restricted development pipeline and scope for continued occupier demand,
save for any unforeseen major economic event over the next three years.
Greater than £120.01
£110.01 - £120.00
Up to £40.00
£100.01 - £110.00
£90.01 - £100.00
£80.01 – 90.00
£70.01 - £80.00
£60.01 - £70.00
£50.01 - £60.00
£40.01 - £50.00
Rent per sq ft
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Our services include:
• Full market research and analysis, including the provision of all “on” and “off” market opportunities
• Financial modelling and forecasts
• Negotiation of optimum lease terms on new leases and lease renewals
• Correctly exercising break dates and providing vacant possession
• Mitigating and minimising your current and on-going business rates liabilities
• Detailed building due diligence (condition surveys)
• Advice on your repair and reinstatement obligations
• Negotiating dilapidations claims
• Maximising workplace efficiencies through in-depth space planning reviews and solutions
• Sourcing and managing contractors for fit outs, refurbishments and reinstatement works
• Sustainability and energy consultancy, including advice on the Energy Savings Opportunity Scheme (ESOS)
Here for you
Central London Tenant Representation
Acquiring new office premises is about so much more than simply securing favourable rental terms and an incentive package.
A number of conditions of the lease, contract obligations and occupational expenditure should be given equal consideration in order to
mitigate your exposure to hidden costs and onerous lease liabilities.
At Knight Frank we offer a refreshingly different approach by exclusively advising tenants across the Central London office market,
delivering real estate cost savings through carefully formulated property strategies and robust, impartial negotiation.
Central London Tenant Representation
Page 13
Dedicated Occupier Advice
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DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Central London Tenant Representation
Central London Tenant Representation
Page 14
In our 2015/16 financial year, we advised clients on transactions ranging from 1,500 sq ft to 118,000 sq ft. In this 12 month period we concluded
deals on just over 738,000 sq ft of office space in 59 transactions.
55% of the transactions we completed in the West End submarkets in the last two years were either off market or pre-completion.
In the first four months of 2016 we have concluded deals on 455,000 sq ft of office space in 18 transactions.
Members of our team negotiated 7 of the 20 pre-lets in the last
24 months of over 50,000 sq ft. These 7 transactions totalled more
than 1 million sq ft plus future options over additional space.
12,515 sq ft
Average transaction size (April 2015 – March 2016)
738,371 sq ft
Sq ft transacted (April 2015 – March 2016)
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Here’s the team
Central London Tenant Representation
Page 15
Richard Proctor
Partner
Head of Central London Tenant Representation
Jack Tomlin
Partner
The City
Bradley Baker
Proprietary Partner
The City
Daisy York
Partner
West End
Julian Woolgar
Partner
West End
Jo Al-Hillawi
Surveyor
The City
Jack Measom
Associate
The City
James Fairweather
Partner
West End
Tim Atherton
Associate
West End
Eleanor McArdle
Graduate
West End
Lois Bond
Graduate
The City
Sebastian Abigail
Senior Surveyor
James Nicholson
Partner
Lee Elliott
Partner Researc
h
Tech &
Cre
ative
Amanda Lim
Senior Surveyor Fle
xib
le O
ffic
e
Solu
tions
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
1 2 3 Strategy
Phase
Transaction
Phase
Project &
Construction
Phase
Here’s our approach
Our Tenant Representation advice is founded on indepth financial analysis of varying occupational strategies.
We aim to ensure that, when implemented, your property strategy fully meets all of your requirements in respect of your company image, space, location and financial objectives.
Our approach is designed to deliver a property strategy that aligns perfectly with your business needs and enhances the overall performance of your business.
Central London Tenant Representation
Page 17
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
1 2
3 4
5
Strategy Phase
Establish Existing Data
Establish Strategic Options
Establish Location Parameters
Establish Space Requirements
Establish Project Programme
‒ Renegotiate existing lease(s)
‒ Investigate reconfiguring existing space
‒ Investigate relocation options
‒ Investigate lease vs purchase options
‒ Review current space occupied and use
‒ Review current lease terms and liabilities for lease exit
‒ Review current headcount
‒ Review headcount growth potential
‒ Consider space types, including special requirements
‒ Establish space standards per person
‒ Review key forthcoming lease dates, including breaks and expiries
‒ Establish lease negotiation timescale
‒ Consider market rent forecasts
‒ Develop fit-out programme
‒ Investigate staff and client locations
‒ Investigate competitor locations & costs
‒ Undertake travel studies
‒ Compare budget costs against sub-markets
Central London Tenant Representation
Page 18
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
6 7
8 9
10
Transaction Phase
Review Market Availability
Short-listing of Options
Issue Request for Proposal (RFP)
Heads of Terms (HoTs)
Legal Negotiations
‒ Grade all options
‒ Agree long-list for inspection
‒ Inspect long-list options
‒ Review options and agree short-list
‒ Agree search criteria
‒ Launch search to marketplace
‒ Report on all availability
‒ Present “off-market” opportunities
‒ Negotiate detailed HoTs
‒ Review counter offers
‒ Ongoing financial analysis of proposed terms
‒ Agree detailed HoTs on preferred option
‒ Instruct lawyers
‒ Assist with the legal due diligence
‒ Attend legal meetings
‒ Ensure the agreed HoTs are reflected in the legal documentation
‒ Agree preferred transaction structure
‒ Issue RFP to short-listed options
‒ Review RFP responses
‒ Undertake initial financial analysis of short-list
Central London Tenant Representation
Page 19
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
11 12
13 14
15
Project & Construction Phase
Appointment of Professional Team
Design Phase
Contract Tendering
Construction Period
Relocation and Dilapidations
‒ Initial design briefing
‒ Produce outline design proposals
‒ Agree final signed off designs
‒ Produce contract tendering documentation
‒ Consider procurement route
‒ Project manager to advise on team selection
‒ RFP and interview process
‒ Appoint architect, services engineer
‒ Lead in and site set up
‒ Undertake works
‒ Monitor on-site progress – budget and programme
‒ Sign off completed works and snagging list
‒ Oversee snagging works
‒ Relocation
‒ Go live at new site
‒ Negotiate exit from former office(s)
‒ Execute reinstatement works (if applicable)
‒ Agree contractor long-list
‒ Issue tender documentation
‒ Evaluate tender packages
‒ Interview contractor short-list
‒ Select preferred contractor
Central London Tenant Representation
Page 20
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Flexible Office Solutions
Central London Tenant Representation
Page 22
Find your ideal
flexible working
solution
Negotiate the
best terms
Increase your
cost savings as our
advice is free
£
What we do
• Understand your key objectives and core requirements
• Provide an overview on current market conditions
• Provide availability schedules for your review
• Arrange viewings with providers
• Evaluate and shortlist business centres
• Negotiate the best terms for the shortlisted options
• Negotiate agreement
• Complete contractual documentation
1
2
3
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
With over 100 years of experience, Knight Frank is the world’s leading, privately owned, global property consultancy. We have built a
reputation in the market for surpassing clients’ expectations. The combination of our people, research and technology has helped us grow
our enviable track record.
Here are some examples of recent works undertaken for our clients.
Track Record
Central London Tenant Representation
Page 24
Client
Greenberg Traurig Maher
Sector
Legal
Project
Lease Acquisition, Workplace Consultancy, Project Management
Size
19,785 sq ft
The Shard,
London Bridge, SE1
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Track Record
Client
Ideal Art Advisory
Sector
Financial
Project
Lease Acquisition
Size
4,575 sq ft
8 St James’s Square
St James’s, W1
Central London Tenant Representation
Page 25
Client
Cleary Gottlieb
Sector
Legal
Project
Lease Acquisition, Project Management
Size
60,000 sq ft
2 London Wall Place
City of London, EC2
Client
Estée Lauder
Sector
Corporate
Project
Lease Acquisition
Size
143,077 sq ft
1 Fitzroy Place
Fitzrovia, W1
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Track Record
Client
United Overseas Bank
Sector
Financial
Project
Lease Disposal, Lease Acquisition
Size
5,500 sq ft
50 Cannon Street
City of London, EC4
Central London Tenant Representation
Page 26
Client
Elliott Advisors
Sector
Financial
Project
Lease Acquisition
Size
32,000 sq ft
Park House
Mayfair, W1
Client
Egon Zehnder
Sector
Recruitment
Project
Lease Acquisition
Size
23,963 sq ft
Nova South
Victoria, SW1
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Track Record
Client
M&G Investments
Sector
Financial
Project
Lease Acquisition
Size
300,000 sq ft
10 Fenchurch Avenue
City of London, EC3
Central London Tenant Representation
Page 27
Client
Allied World
Sector
Insurance
Project
Lease Acquisition
Size
60,000 sq ft
20 Fenchurch Street
City of London, EC3
Client
AppNexus
Sector
Technology
Project
Lease Acquisition
Size
15,415 sq ft
50 Eastcastle Street
Noho, W1
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Track Record
Client
Frere Hall Capital Management
Sector
Financial
Project
Lease Acquisition
Size
1,885 sq ft
13-14 Old Bond Street
Mayfair, W1
Central London Tenant Representation
Page 28
Client
Diabetes UK
Sector
Charity
Project
Lease Acquisition
Size
25,000 sq ft
122 Back Church Lane
Eastern City Fringe, E1
Client
Anchorage Capital
Sector
Financial
Project
Lease Acquisition, Disposal Advice
Size
16,475 sq ft
40 Portman Square
Marylebone, W1
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Track Record
Client
Petra Diamonds
Sector
Corporate
Project
Lease Acquisition
Size
2,144 sq ft
52 Conduit Street
Mayfair, W1
Central London Tenant Representation
Page 29
Client
Jefferies International
Sector
Financial
Project
Lease Acquisition
Size
118,000 sq ft
100 Bishopsgate
City of London, EC2
Client
Goodwin Procter
Sector
Legal
Project
Lease Acquisition, Business Rates, Rent Review, Dilapidations
Size
32,950 sq ft
100 Cheapside
City of London, EC2
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Track Record
Client
Worldstores
Sector
TMT / Retail
Project
Lease Acquisition
Size
14,000 sq ft
Brettenham House,
Strand, WC2
Central London Tenant Representation
Page 30
Client
Taylor Wimpey
Sector
Real Estate
Project
Lease Acquisition
Size
10,200 sq ft
20 Air Street
Soho, W1
Client
StepStone
Sector
Recruitment
Project
Lease Acquisition
Size
6,666 sq ft
Harlequin Building
South Bank, SE1
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Testimonials
Being a partnership allows us to put our clients first. We focus on giving them the best advice and putting long term relationships before short
term wins. We build strong and long lasting relationships with our clients so that, over time, evolving occupational and business needs are fully
understood. Armed with this detailed knowledge, we are ideally placed to formulate the optimum property strategy for that particular client.
The Knight Frank team of Bradley Baker and Jack Tomlin worked
professionally and tirelessly to identify the best strategic scenarios for our firm and
crucially, ascertained the financial and full property implications of these options.
Their individual commitment, advice and professionalism throughout our entire
HQ project has been exemplary.
Gail Meakin
Head of Strategy & Planning, Prudential Corporate Property
The Central London Tenant Representation team at Knight Frank
assisted us in identifying our strategic property options, their financial implications
and their respective advantages and disadvantages, culminating in negotiating a
truly market making transaction which delivered excellent results for us. Their
professionalism and hands on approach at a senior level throughout was
exemplary.
Mick Mahon
Executive Director, Head of Corporate Services, Planning Division for EMEA,
The Bank of Tokyo Mitsubishi UFJ Ltd
Central London Tenant Representation
Page 31
“We are really excited to have found a new ‘Fruit Towers’. It has been
great working with Knight Frank who have helped us secure a fantastic deal on a
great site in an environmentally friendly building which offers us all we need for
the next chapter of the innocent story.
John Durnham
Head of IT and Environment, Innocent
Knight Frank rapidly and accurately assessed the financial
implications of our various options and scenarios and negotiated an extremely
attractive and flexible financial package for our headquarters building.
Paul Naismith
Financial Director, Guardian Media Group
Here’s what some of our clients have said…
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Testimonials
As a legal partnership, we have certain requirements and
expectations. We were delighted by the advice provided by Bradley Baker and his
team who related immediately to our firm’s structure and approached our
relocation project with a high level of innovation and strategic thinking, culminating
in the acquisition of our new HQ space which was sourced completely off-
market. Their commitment to securing the very best commercial terms possible
was constant throughout the process.
Anthony Phillips
Partner, Fieldfisher LLP
The Knight Frank team made the process of renewing our lease
simple and painless. They quickly focussed in on our requirements and gave us a
carefully chosen shortlist of suitable office spaces. Knight Frank made the
negotiation of terms much more effective and less stressful. In the end, we were
confident that we had achieved a much better result than we could have managed
by ourselves and had avoided tying up directors and key members of staff at a
very busy time for our company.
John Hare
CEO, Millerhare
Central London Tenant Representation
Page 32
I am thrilled to say that we are under offer on 12 St James's St HOTs.
It took months of effort and collaboration on all your parts to get a deal agreed for
Equinox, and I am thankful. We did it! It is a testament to the multidisciplinary
expertise of Knight Frank and the power of your relationships. Equinox is one step
closer to creating an unparalleled fitness club and offer, not only in St James's,
but all of London. A lot more work to do, but a great win today. Go team!
Danielle Larsen
Director, Real Estate & Acquisitions, Equinox
Knight Frank accommodated our every request during our search for
office space in Central London. They were malleable in their approach, adapting
and responding to our criteria which changed as the search progressed. No
inquiry made on our behalf was too great or too small, and absolutely always
treated with the utmost care, due diligence and professionalism. They not only led
our search, but followed the entire process through to the end with us. I could not
recommend their services more highly.
Sarah Blunden
Office Manager, Frere Hall Capital Management LLP
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Testimonials
Knight Frank acted as our retained real estate advisor and guided us
through a highly successful search and lease acquisition process. This culminated
in the delivery of a new self-contained, Central London headquarters building at a
highly competitive price point. The Knight Frank team were proactive throughout
and understood our specific needs and requirements as a registered charity.
Anthony Francis
Head of Project and Facilities Management, Diabetes UK
Central London Tenant Representation
Page 33
Knight Frank acted for us in our recent prelet acquisition of our new
Headquarters at Nova South in Victoria. Key to the success of the project for us
as a Partnership was that Knight Frank clearly understood our business and our
specific requirements. Knight Frank did this exceptionally well and provided well-
structured and clearly reasoned opinions and advice to enable our steering
committee to make all necessary decisions in a timely manner. Knight Frank
worked very well with both our internal and external legal counsel, and wider
project team, to ensure that the most favourable commercial and legal transaction
was delivered. We would have no hesitation in working with them again.
Joe Haim
Egon Zehnder
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Black logo options
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Here, there & everywhere
Working together, sharing advice and supporting each other on a daily basis, our integrated Tenant Representation teams provide expert advice and first class service to our clients across the globe.
People
13,000 Offices
417 Countries
58
United Kingdom
People 1,990
Offices 84
Middle East
People 50
Offices 3
Countries 2
Asia Pacific
People 5,190
Offices 57
Countries 13
Americas
People 4,640
Offices 163
Countries 14
Africa
People 700
Offices 23
Countries 10 Europe
People 1,040
Offices 87
Countries 16
Central London Tenant Representation
Page 35
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Contacts
Central London Tenant Representation
James Nicholson
Partner
t: +44 20 3826 0640
Sebastian Abigail
Senior Surveyor
t: +44 20 7861 5113
Tech & Creative Team
Lee Elliott
Partner
t: +44 20 7861 5008
Research
Central London Tenant Representation
Page 36
Richard Proctor
Head of Central London Tenant Representation
t: +44 20 7861 5159
Jack Tomlin
Partner – The City
t: +44 20 7861 1701
Bradley Baker
Proprietary Partner – The City
t: +44 20 7861 1256
Daisy York
Partner – West End
t: +44 20 7861 5348
Julian Woolgar
Partner – West End
t: +44 20 7861 1008
Jo Al-Hilawi
Surveyor – The City
t: +44 20 7861 1712
Jack Measom
Associate – The City
t: +44 20 7861 1718
James Fairweather
Partner – West End
t: +44 20 3826 0659
Tim Atherton
Associate – West End
t: +44 20 7861 1501
Amanda Lim
Senior Surveyor
t: +44 20 3826 0661
Flexible Office Solutions
Lois Bond
Graduate - The City
t: +44 20 7861 1489
Eleanor McArdle
Graduate - West End
t: +44 20 7861 1396
CORE GREEN
LIGHT GREEN
DARK GREEN
DARK GREY
RGB: 193, 215, 46
RGB: 208, 224, 104
RGB: 222, 232, 154
RGB: 237, 243, 203
RGB: 218, 220, 86
RGB: 227, 228, 131
RGB: 234, 236, 170
RGB: 244, 245, 210
RGB: 122, 193, 66
RGB: 155, 206, 110
RGB: 187, 220, 155
RGB: 220, 236, 203
RGB: 88, 88, 90
RGB: 99, 100, 102
RGB: 147, 149, 152
RGB: 199, 200, 202
Knight Frank – West End Office
55 Baker Street
London
W1U 8AN
KnightFrank.co.uk
@KFTenRep
Knight Frank – City Office
Woolgate Exchange
25 Basinghall Street
London
EC2V 5HA
