Thursday 9 September 2010
LSH acquires new UK HQ for technology firm Vignette Europe
International technology company, Vignette Europe, needed to relocate its UK Head Office in Maidenhead and instructed Lambert Smith Hampton's (LSH's) office agency team to acquire 10,000 sq ft of alternative modern new premises, before appointing LSH's building consultancy team to manage the fit-out.
Client:
Vignette EuropeProject background:
- Having decided it was time to relocate from its existing premises at the end of the lease term, Vignette took the opportunity to upgrade its facilities for staff and clients alike whilst remaining in the Maidenhead environs.
- Vignette required flexible lease terms with regular break opportunities, an excellent parking allocation and a significant landlord contribution to the building’s fit-out, all within a very tight timescale.
- At the outset, LSH’s Building Consultancy team assessed the operational requirements of the business so that the property search could be tailored to Vignette’s specific requirements.
LSH’s Office Agency team identified Voyager Place, Maidenhead (off market), as the ideal property to relocate.
- The HQ building totalled approximately 55,000 sq ft. Head tenant Alcatel Lucent was able to offer approximately 10,000 sq ft of offices on the third floor that were due to be vacated by their former sub-tenant.
Client benefits:
- A ten year lease was agreed, with tenant break options at years three and six – in line with Vignette’s request for flexible lease terms. LSH secured a rent in the order of £28 per sq ft with the equivalent of 12 months rent free and a further contribution towards the refit, delivering significant cost advantages to the client.
- LSH negotiated an excellent parking facility (1:211 sq ft), almost one per employee. An allocation which is now uncommon within the town.
- LSH’s Building Consultancy team has designed, tendered and supervised the fitout of Voyager Place to provide a first class working environment. This team is also advising Vignette on its final exit dilapidations on the former town centre offices.
- LSH’s Rating division is also advising Vignette on its new rating assessment, pending a possible appeal to reduce this overhead.
- Vignette has achieved all of its objectives by relocating to Voyager Place and now benefits from modern, technology-equipped office premises with a great corporate image.
For information about the services covered in this case study please contact Cliff Jackson
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