Thermofisher held a lease of 26,000 sq.ft of offices of which circa 11,000 sq. ft. was surplus space. Trilogie identified a lease event which would provide the opportunity to create a solution.
Trilogie were instructed to help reduce the office footprint and create overall occupation savings.
We negotiated the lease regear for Themofisher on a 26,000 sq ft office building in Altrincham. The deal was structured to hand back the 11,000 sq.ft surplus wing early and a new lease put in place on the retained wing.
As well as delivering a significant saving on the remaining total property cost liability on the surplus wing (in excess of 50%), the annual rent per sq.ft was reduced on the occupied wing and a significant rental incentive secured both at day 1 and at the fifth anniversary should the break not be exercised.
The total saving achieved was circa £380,000 per annum.