We are retained by this historic Charity to advise it on commercial property matters as it takes a more pro-active approach to its estate around Charterhouse Square and elsewhere in the South East.
We negotiated for it to take surrender of an existing leasehold interest from RBS at 23-28 Charterhouse Square and simultaneously agreed a new long lease with Helical plc to facilitate the refurbishment of 40,000 sq ft of offices and retail accommodation next to the eastern ticket hall of Farringdon Elizabeth Line (Crossrail) station. This has created substantial capital value and income uplift to the Charterhouse, which also retained a profit share.
We were retained as joint letting agents. The building was refurbished and fully let at rents in excess of £75 per sq ft within two years of agreeing the new head lease.