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Morgan Pryce has successfully completed on the acquisition of a self-contained B1 office near London Bridge. The space provides street level advertising and an entrance that can be branded to meet the client’s needs. As this particular occupier is client facing and often has meetings onsite, it was important they were able to control the entrance to their office to make sure it provided the right message to their visitors.
The unit has had exposed ceilings and wood effect vinyl flooring installed, along with two WCs and space for a kitchenette. The deal was agreed at £53 per sq ft with an impressive nine months rent-free. There was strong competition for the unit, but due to a swift negotiation strategy and the company’s strong accounts we were able to secure the 1400 sq ft unit with ease.
Eugene O’Sullivan, a Managing Director and experienced Chartered Surveyor at Morgan Pryce says; “The Southbank market is a market to be tested, as we are seeing supply rise in the City along with landlord incentives, which is having an overflow effect to Southbank. Many occupiers originally moved to Southbank to try to find value from the rising rents in the city, however it now appears that the tables are turning, and the main reason occupiers stay in Southbank is the diversity in units available”.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.