Lease Negotiations of 239 and 243 Old Street, EC1

Tender description

The work consists of two lease negotiations following the Covid 19 pandemic which has caused two particular businesses to struggle and seek rent reductions. This work needs to be outsourced to specialist commercial agents Strettons as the rents are reasonably large at £130,000, and £160,000pa. There are also additional loan repayments for the council from the tenants. They are also property uses which LBH do not have extensive knowledge of with negotiations, these being central london offices and leisure . It would be usual standard practice to outsource a lease negotiation of this rental amount and property uses. Strettons will advise us on what a good deal would be and we hope this will work for both LBH and the tenants. The rent will likely decrease on both units.