8 Eastcheap, Monument, City of London, EC3
8 Eastcheap, Monument, London, EC3
Address: 8 Eastcheap, Monument, London, EC3
Size: 25,500 sf
Client: Training, events and conferencing
Transaction: Lease acquisition and re-structuring
The client was operating successfully from two floors when we alerted them to the availability of two adjacent floors in un-refurbished condition. The client was keen to avoid paying a premium for the proximity but was attracted to the opportunity to generate additional revenues and was interested to secure longer term occupation by extending its lease on the existing floors.
New leases were negotiated with extended inducements partly to reflect the costs of assuming the floors in “as seen “ condition. The existing leases were re-structured including caps on the client’s service charge liability, additional inducements, limited reinstatement exposure whilst reducing its surety position.
The client can now provide 19 rooms with a capacity of up to 240 delegates and features its “Brain Box” twist on the conventional venue.