BNPPRE UK 2014-2015 - BNP Paribas Real Estate

THE REAL ESTATE ADVISER
FOR A CHANGING LONDON
2014/2015 HIGHLIGHTS
PROPERTY DEVELOPMENT | TRANSACTION | CONSULTING | VALUATION | PROPERTY MANAGEMENT | INVESTMENT MANAGEMENT
CONTENTS
INVESTMENT........................................................................... 6
AGENCY...................................................................................14
ASSET MANAGEMENT.......................................................22
RESIDENTIAL.........................................................................24
RETAIL......................................................................................30
PROPERTY MANAGEMENT................................................34
LEASE ADVISORY.................................................................40
VALUATION.............................................................................46
CORPORATE SERVICES.......................................................50
RATING....................................................................................54
BUILDING CONSULTANCY..................................................56
PROPERTY DEVELOPMENT ...............................................60
London has continued to reinforce its status as the financial capital of
the world. Investment into London has increased quarter on quarter
BNP Paribas Real Estate has become
a force to be reckoned with in London
with ever-increasing amounts of capital flowing into our great city, a
large proportion of which has been directed at real estate.
Investment into Central London commercial property reached just
under £20bn in 2014, 73% of this coming from overseas buyers.
BNP Paribas Real Estate has become a force to be reckoned with in
London; our capital markets team delivered over £3bn of investment
deals for our clients, ranging from sub £20m lots to £500m+ assets,
and negotiated on 10m sq ft of commercial space in the UK in the last
12 months.
Our experts can advise you on investment strategy, entry to the
London market, asset selection and ongoing management so that
your assets are in safe hands and rising in value.
It is increasingly important in this fast-paced London market to be
ready to move quickly when advisers bring real estate opportunities
to you. If you can make a quick decision and trust your advisers, you
are more likely to be the winner. With all eyes on London, speed can
make the difference.
John Slade
Chief Executive Officer
BNP Paribas Real Estate
4
5
Investment
BOND STREET HOUSE W1
THE HOUNDSDITCH ESTATE EC3
Client:
BNP Paribas REIM (Germany)
Client:
Madison International
Price:
£112m
Price:
£199m (total estate)
Size:
28,991 sq ft
Size:
326,000 sq ft
Our role:
Advised on the sale of this mixed-use prime
Our role:
Incorporating five properties totalling 326,000
Services:
pitch on London’s premier New Bond Street
sq ft on a unique 1.75-acre freehold island
Investment
site in the City of London. We sourced the
opportunity and successfully assisted the
client in creating a new 50/50 joint-venture
with TIAA Henderson Real Estate comprising
the entire estate
Services:
Investment
MOORGATE EXCHANGE EC2
Client:
BlackRock Europe Property Fund III and CarVal
Investors, in partnership with Quadrant Estates
Price:
£211m
Size:
235,000 sq ft
Our role:
Acquired the site for development in 2011 for
£38m for Quadrant Estates, CarVal and MGPA and
then advised on the sale of the asset to Brookfield
Services:
Investment
77 FULHAM PALACE ROAD, HAMMERSMITH W6
Client:
AXA Real Estate and Bellhammer
Price:
£81.75m
Size:
193,313 sq ft
Our role:
Advised on the investment acquisition of this
three acre strategically located business
campus in a core West London location
Services:
6
Investment
7
33 GOLDEN SQUARE W1
89 SOUTHWARK STREET SE1
Client:
Primonial
Client:
Standard Life UK PF
Price:
£23.5m
Price:
£30m
Size:
17,198 sq ft
Size:
45,823 sq ft
Our role:
Achieved a sale price 28% above the quoting
Our role:
Advised on the purchase
Services:
price, reflecting a record capital value per sq ft
of this award winning
for an office in this location
building, on the
Investment
Southbank of the river
Thames, as part of an
innovative sale and
leaseback transaction
Services:
Investment
6 PANCRAS SQUARE, KING’S CROSS N1C
130 SHAFTESBURY AVENUE W1
Client:
BNP Paribas and AXA Real Estate
Client:
Qatari investor
Price:
£320m
Price:
£66.5m
Size:
350,000 sq ft
Size:
60,130 sq ft
Our role:
Sold the forward funding of a joint-venture led by AXA
Our role:
Advised on the purchase of a prime West
End office
Real Estate. Agreed terms with Google to take the whole
property
Services:
Services:
Investment
Investment, Leasing and Property Development
17 & 18 IRVING STREET WC2
Client:
Private Middle Eastern investor
Price:
£14.4m
Size:
8,100 sq ft
Our role:
Secured a prime Covent Garden retail
investment on behalf of our client
Services:
Investment
ANGEL SQUARE N1
Client:
Derwent London
Price:
£75m
Size:
132,400 sq ft
Our role:
Advised on the strategic acquisition of this
prominent office building, providing our client
with short term asset management opportunities
and future redevelopment potential
Services:
8
Investment
9
100 CHEAPSIDE EC2
Client:
CarVal Investors Orion Capital
BUCHANAN HOUSE, 30 HOLBORN EC1
Managers and Quadrant Estates Ltd
Client:
Orchard Street Investment Management
Price:
£95.5m
Price:
£43.2m
Size:
101,000 sq ft
Size:
49,000 sq ft
Our role:
Advised on the sale of this building to
Our role:
Purchased in 2010 for £20.3m, restructured
Services:
Standard Life
the lease to the London School of Business and
Investment
Finance and then sold in 2014 for £43.3m to
clients of Kuwait National Bank
Services:
Investment
BIRCHIN COURT, 19-25 BIRCHIN LANE EC3
Client:
Corpus Sireo
Price:
£41.25m
Size:
63,670 sq ft
Our role:
Advised on the purchase of a prime city office and
went on to complete the letting of two vacant
floors. Following the transaction, we secured the
property management instruction
Services:
10
Investment, Leasing and Property Management
11
OUR LONDON INVESTMENT EXPERTS
Simon Williams
James Keys
Head of Investment
City Investment
+44 (0)207 338 4151
+44 (0)207 338 4031
simon.d.williams@bnpparibas.com
james.keys@bnpparibas.com
Richard Garside
Paul Henwood
Head of City Investment
City Investment
+44 (0)207 338 4034
+44 (0)207 338 4391
richard.garside@bnpparibas.com
paul.henwood@bnpparibas.com
Steven Skinner
James Hiatt
Head of West End Investment
City Investment
+44 (0)207 338 4229
+44 (0)207 338 4403
steven.skinner@bnpparibas.co.uk
james.hiatt@bnpparibas.com
David Barry
James Russell
North American Investment
International Investment
+44 (0)207 338 4199
+44(0)207 338 4172
david.j.barry@bnpparibas.com
james.russell@bnpparibas.com
Andrew Cruickshank
Gregor Wallace
International Investment
West End Investment
+44 (0)207 338 4434
+44(0)207 338 4230
andrew.cruickshank@bnpparibas.com
gregor.wallace@bnpparibas.com
TEMPLAR HOUSE, 81-87 HIGH HOLBORN WC1
Client:
Feldman Group of Companies
Price:
£55m
Size:
100,500 sq ft
Our role:
Advised on the sale of this office building for our client
Services:
Investment
INIGO HOUSE, 29-30 BEDFORD STREET WC2
Client:
Private Middle Eastern investor
Price:
£12.6m
Size:
11,000 sq ft
Our role:
Introduced and advised our client
on the acquisition of this property
in a sought-after West End
location
Services:
Investment
We can advise you on
investment strategy, entry to the
London market, asset selection
and ongoing management so
that your assets are in safe
hands and rising in value
David Barry
12
13
Agency
BARNARD’S INN, 86 FETTER LANE EC4
THE INTERNATIONAL QUARTER, STRATFORD E20
OFFICE LEASING
Client:
TIAA Henderson Real Estate
Size:
85,000 sq ft
Our role:
Project managed the refurbishment
Client:
Lend Lease and London & Continental Railways
Size:
750,000 sq ft
of the property and delivered two
Our role:
Landmark first lettings totalling c.£750,000 sq ft
new lettings totalling 32,000 sq ft,
agreed
rent reviews on 40,000 sq ft, and
Services:
Leasing and Investment
regeared the lease on 13,000 sq ft
Services:
Leasing, Project Management and
Lease Advisory
THE NEWS BUILDING, LONDON BRIDGE SE1
Client:
News UK
Size:
93,000 sq ft
Our role:
Sub-letting of three surplus floors in
this 425,000 sq ft building which we
acquired for News UK in 2013, achieving
profit rents even on the lowest floors
Services:
14
Leasing
15
35 ALFRED PLACE WC1
SALISBURY HOUSE EC2
Client:
Corporation of London
Client:
Moorfield
Size:
14,300 sq ft
Size:
250,000 sq ft
Our role:
Advised on a single-letting of the
Our role:
Securing approximately 50,000 sq ft of
entire building
Services:
lettings whilst under refurbishment and
Leasing
doubling rented tone in the building
Services:
Leasing and Investment
2 LONDON BRIDGE SE1
Client:
LaSalle Investment Management
Size:
52,000 sq ft
Our role:
Re-let four recently vacated floors. Setting a
record rent for a building of this size in SE1.
Taking rents from £40 sq ft to £67 sq ft.
Services:
Leasing
KING’S PLACE N1
Client:
Network Rail
Size:
60,000 sq ft
Our role:
Let in two deals to Hammerson and
Travelex before our client had even
vacated the building
Services:
16
Leasing
17
26 FINSBURY SQUARE EC2
Client:
Freshwater
Size:
86,000 sq ft
Our role:
Let all of this contemporary office space,
OFFICE SEARCH AND ACQUISITION
ALBAN GATE, 125 LONDON WALL EC2
located between the City and Shoreditch, in
Services:
ten separate lettings over a 15 month period
Client:
Reed Elsevier
Leasing
Size:
40,000 sq ft
Our role:
Secured statutory
compensation from previous
landlord and secured grade A
quality space at grade B rents
Services:
Leasing, Lease Advisory and
Building Consultancy
81 CHANCERY LANE WC2
Client:
39 Essex Street
Size:
53,000 sq ft
Our role:
Acquired space for our client whilst under
construction and negotiated the exit from
their existing buildings prior to relocation
Services:
Leasing, Project Management, and Lease
Advisory
5 ALDERMANBURY SQUARE EC2
2 CAVENDISH SQUARE W1
Client:
Hermes Real Estate
Size:
27,000 sq ft
Our role:
Advised on the refurbishment and letting of
Client:
Steptoe and Johnson
Size:
15,502 sq ft
Our role:
Parallel renewal and relocation negotiations,
leading to exceptional terms for our client
Leasing and Lease Advisory
Services:
various floors in the building and also advised
ingoing tenant on acquiring a refurbished floor
Services:
18
Leasing
19
39 VICTORIA STREET SW1
Client:
Parliamentary Estates Directorate
Size:
95,000 sq ft
Our role:
Negotiated the acquisition of the entire building
prior to practical completion and provided due
diligence on occupational matters
Services:
Leasing and Building Consultancy
We have a track record of
advising our clients on some of
the most high profile, ground
breaking and innovative office
deals in London
Dan Bayley
OUR LONDON LEASING
EXPERTS
Dan Bayley
Head of Central London Leasing
+44 (0) 20 7338 4444
daniel.bayley@bnpparibas.com
Fred Hargreaves
Head of City Leasing
+44 (0)20 7338 4430
fred.hargreaves@bnpparibas.com
10 HAMMERSMITH GROVE W6
James Strevens
Client:
UKTV
james.strevens@bnpparibas.com
Size:
40,000 sq ft
Our role:
Search and acquisition
Chris Williams-Ellis
of this ground-breaking
City Leasing
facility for our client
+44(0) 20 7338 4442
Leasing
chris.williams-ellis@bnpparibas.com
Services:
City Leasing
+44 (0)20 7338 4493
David Herzog
West End Leasing
+44 (0)20 7338 4292
david.herzog@bnpparibas.com
Nick Rock
West End Leasing
+44(0)20 7338 4485
nick.rock@bnpparibas.com
20
21
Asset Management
Our asset management team
carefully reviews clients’ estates
and portfolios to identify value
adding opportunities in conjunction
with market occupier trends
David Edwards
10 EASTCHEAP EC3
Client:
CCLA
Our role:
Tenant engineering to ensure vacant possession
of an office building to facilitate a comprehensive
refurbishment
Services:
Asset Management and Valuation
21 QUEEN ANNE’S GATE SW1
Client:
Private Trust
Price:
£7m
Our role:
We negotiated the
OUR LONDON ASSET
MANAGEMENT EXPERTS
surrender of an office
lease and advised on the
David Edwards
simultaneous sale of this
Asset Management
building to an international
+44(0)207 484 8127
developer leading to an
david.edwards@bnpparibas.com
85% profit for the client
Services:
Asset Management and
Shaun Hose
Valuation
Asset Management
+44 (0)207 338 4205
shaun.hose@bnpparibas.com
22
23
Residential
FORMER ROYAL MAIL DELIVERY OFFICE N1
Client:
Royal Mail
Size:
4.3 acre development site with
planning consent for 263 residential
units and 93 serviced apartments,
together with over 180,000 sq
ft NIA of commercial/leisure
accommodation
Our role:
Complex disposal structure involving
land swap and capital receipt
payable to our client.
Services:
Development Consultancy, Valuation
and Land Sale
340 CLAPHAM ROAD SW9
Client:
Ipsus
Size:
90,000 sq ft residential and 34,000 sq ft
proposed commercial
Our role:
Disposal of permitted development to a
range of selected house-builder parties
Services:
Land Sale and Development Consultancy
FAIRCHARM INDUSTRIAL ESTATE, DEPTFORD SE1
Client:
Workspace Plc
67 TUFTON STREET SW1
Size:
2 acre site comprising 114,690 sq ft (NSA) of
Client:
Wrenbridge and Legal & General
Our role:
Size:
19 apartments and three duplex penthouses
to redevelop the site, receiving £9.5m payment plus
Our role:
22,000 sq ft office building being converted into
delivery of a new business centre in return for the
residential
sale of the residential element of the site
Services:
Development Consultancy, Land Sale, JV
Structuring, and New Home Agency
24
residential accommodation providing 148 units.
Plus a new 52,000 sq ft business centre
Services:
Entered into an agreement with London & Quadrant
Development Consultancy, Land Sale / Development
and Agreement, and New Home Sales
25
GRANGE WALK, SOUTHWARK SE1
Client:
London Borough of Southwark
PHASE 1 & II ST BERNARD’S
HOSPITAL, UXBRIDGE RD UB1
Size:
1.4 acres (167 units)
Client:
Our role:
Disposal subject to planning for c.£22m.
Services:
West London Mental
Health NHS Trust
Planning now obtained and deal completed,
Size:
362 units, £18.1m
with planning overage secured for the Council.
Our role:
Advised the vendor
Instructed on new homes sales
on this substantial
Development Consultancy, Valuation, Land Sale
regeneration scheme
Services:
and New Homes Agency
Development
Consultancy
and Land Sale
CARNWORTH ROAD SW6
Client:
CBREGI / IBM
Size:
4.5 acre riverside site with c.300 homes
Our role:
Creation of multiple landowning collaboration
to bring forward a masterplan and subsequent
detailed planning application
Services:
Collaboration Agreements, Development
Consultancy, CPO Advice, Planning Project
Management and Land Sale
2 FANN STREET EC2
Client:
City of London
Size:
74 apartments
Our role:
STP disposal to Redrow
Central London
for £28m. Subsequently
appointed on New
POPLAR BUSINESS PARK, TOWER HAMLETS E14
Homes and Viability for
Redrow
Services:
Development
Client:
Workspace Plc
consultancy, Viability
Size:
180 apartments and hand back of commercial
/ Affordable Housing
accommodation
Advice, Land Sale, and
Disposal of asset in a complex structure
New Homes Agency
Our role:
including the re-provision of 40,000 sq ft
commercial accommodation
Services:
26
Agency and Development Consultancy
27
BLACKFRIARS RESIDENCES SE1
OUR LONDON RESIDENTIAL EXPERTS
Client:
London Borough of Southwark
Adrian Owen
Sam Blake
Size:
0.37 acres (86 units)
Executive Director
Development Consultancy,
Our role:
Unconditional disposal to a major
UK Residential
Local Authorities and HCA
housebuilder for c.£9m
+44 (0)20 7338 4064
+44 (0)207 338 4130
Development Consultancy, Land Sale
adrian.owen@bnpparibas.com
samuel.blake@bnpparibas.com
Steven Cooper
Howard Williams
Central London Residential Development Consultancy, NHS and Charities
+44 (0)20 7338 4045
+44 (0)207 338 4063
steven.cooper@bnpparibas.com
howard.williams@bnpparibas.com
Anthony Lee
Julian Gaynor
Affordable Housing and Viability
Development and Strategic Land
+44 (0)20 7338 4061
+44 (0)207 338 4162
anthony.lee@bnpparibas.com
julian.gaynor@bnpparibas.com
Services:
and New Homes Agency
We are one department that sits under
the same roof and so are genuinely
unique in that we combine expertise across
every stage of the development cycle, for
both public and private sector clients
28
Adrian Owen
29
Retail
LVMH GROUP
Client:
LVMH Group
Our role:
Ongoing advice to LVMH
Group and individual
brands in central London
luxury areas
Services:
Leasing, Lease Advisory,
and Investment
6 PANCRAS SQUARE N1
Client:
AXA
Size:
17,000 sq ft retail space
Our role:
Lettings to a number of A3 and A4 retailers including
Drake and Morgan, Leon, Wasabi and Tortilla. We worked
on the basis of agreeing a set lease with AXA which was
pre-issued to interested parties in order to speed up the
legal processes
Services:
Leasing
100 CHEAPSIDE EC2
Client:
Standard Life
Investments
Size:
Two flagship retail units
with a combined total of
12,000 sq ft
Our role:
Services:
ROYAL OPERA ARCADE SW1
Client:
Ongoing leasing advice
New Zealand High
Commission
to secure high quality
Size:
14 retail shops
retail tenants which
Our role:
Ongoing retail agency
complement the office
advice within the Royal
occupiers
Opera Arcade. Tenants
Retail Agency Leasing
include Stephen Wiltshire
Gallery, Vangelli Gallery,
Pall Mall Fine Wines and
10 MOUNT STREET W1
Client:
LVMH
Price:
£220,000 pa
Size:
2,254 sq ft
Our role:
Secured a new lease on
the House of Luxury
Services:
Leasing and Lease Advisory
behalf of LVMH to trade
as Dior
Services:
30
Retail Agency Acquisition
31
3 SOUTH MOLTON STREET W1
Client:
Frey Wille
Price:
£150,000 per annum
Size:
366 sq ft
Our role:
Secured a new lease
on behalf of the
occupier as part of their
targeted central London
expansion programme
Services:
Retail Agency Acquisition
Our retail team offers a
comprehensive landlord leasing,
tenant representation and landlord &
tenant service and add value to real
estate assets through active asset
management and creative, innovative
leasing solutions
Patrick Heaps
OUR LONDON RETAIL EXPERTS
Patrick Heaps
Head of Retail
+44 (0)20 7338 4084
patrick.heaps@bnpparibas.com
Rob Hargreaves
Central London Retail Agency
+44 (0) 20 7338 4490
robert.hargreaves@bnpparibas.com
Simon Williams
Head of Retail Investment
+44 (0)20 7338 4151
simon.d.williams@bnpparibas.com
Steven Skinner
Head of West End
+44 (0)20 7338 4229
steven.skinner@bnpparibas.com
Sarah Beckwith
Lease Advisory
272 HIGH HOLBORN WC1
Client:
+44 (0)20 7338 4329
sarah.beckwith@bnpparibas.com
Private Far Eastern
investor
Price:
10 year lease at a rental of
£175,000 pa exclusive
Size:
1,792 sq ft
Our role:
Letting to an established
overseas operator for one
of their first UK sites
Services:
Leasing and Lease
Advisory
32
33
Property
Management
PINNERS HALL & EXCHANGE SQUARE EC2
Client:
BNPP REIM
Size:
190,000 sq ft
Our role:
Complete mechanic & engineering
refurbishment, lease regearing and ongoing
property management services
Services:
Property Management
BELGRAVE HOUSE SW1
Client:
Grosvenor
Size:
275,000 sq ft
Our role:
Provided sustainability expertise,
refurbishment of reception area and ongoing
property management service
Services:
Property Management
ALDGATE TOWER E1
Client:
Aldgate Holdings
Size:
320,000 sq ft
Our role:
Set up and ongoing property
management services
Services:
34
Property Management
35
EAGLE PLACE & ST JAMES’S MARKET W1
Client:
The Crown Estate
Size:
332,000 sq ft
Our role:
Design, set up and ongoing property
management services, in addition to our
ongoing contract to manage The Crown
Estate’s 4m sq ft St James’s Portfolio
Services:
Property Management
BIRCHIN COURT EC3
Client:
Corpus Sireo
Size:
63,670 sq ft
Our role:
Due diligence support and capital
expenditure project linking in with
Investment
Services:
Property Management
PHOENIX LIFE PORTFOLIO
MOORGATE EXCHANGE EC2
Client:
Standard Life
Size:
2,500,000 sq ft
Client:
Brookfield
Our role:
Property management of the
Size:
235,000 sq ft
portfolio spread across the UK,
Our role:
Building design
Services:
including London
advice, set up and
Property Management
ongoing property
management services
Services:
Property
Management
36
37
We manage 11m
sq ft across London
including some of
London’s trophy and
landmark assets.
We are specialists in
full service property
management from
design through
to ongoing
management
72 KING WILLIAM STREET
& THE SALTERS’ HALL EC4
Client:
The Salters’ Company
Size:
35,000 sq ft
Our role:
Set up and project management
and ongoing property management
services
Services:
Property Management
Lynne Brown
EARL PLACE EC2
OUR LONDON PROPERTY
MANAGEMENT EXPERTS
Client:
Credit Suisse
Size:
92,000 sq ft
Our role:
Adding value
Paul Abrey
through asset
Property Management
management and
+44 (0)207 338 4114
leasing
paul.abrey@bnpparibas.com
Services:
Property
Management
Steve Harber
Property Management
+44 (0)207 484 8170
steve.harber@bnpparibas.com
Lynne Brown
Property Management
+44 (0)207 484 8188
lynne.brown@bnpparibas.com
Neil Glendinning
Property Management
+44 (0)207 484 8152
neil.glendinning@bnpparibas.com
38
39
Lease Advisory
WHITEHALL SW1
Client:
Private investor
Rent:
£250,000 pa
Size:
3,000 sq ft
Our role on a retail property:
Review settled at 89% increase in
rent and within three months of
implementation
Services:
Lease Advisory
TOTTENHAM COURT ROAD W1
Client:
City of London
Rent:
£460,000 pa
Size:
8,500 sq ft
Our role:
Used dispute resolution procedures to encourage
settlement of historic review to facilitate wider unit
reconfiguration for a retail unit
Services:
Lease Advisory and Agency
KING WILLIAM STREET EC4
51 LIME STREET EC3
Client:
Overseas investor
Rent:
£2.43m pa
Size:
60,000 sq ft
Our role:
Advice on notional
review clause and timing
Client:
Willis
of implementation of
Rent:
£17.5m pa
review to allow creation
Size:
360,000 sq ft
of new evidence and
Our role:
Secured a nil increase on the brink of
arbitration following a proposal by the
achieve uplift in rent
Services:
Lease Advisory
landlord to increase the rent to £19m
Services:
40
Lease Advisory
41
23 AUSTIN FRIARS EC2
30 FENCHURCH STREET EC3
Client:
HDI London Ltd
Rent:
£2.25m pa
Client:
Accenture
Size:
55,853 sq ft
Rent:
£4.8m pa
Our role:
Extended lease for term of 10
Size:
102,500 sq ft
years
Our role:
Secured an increase in the rent of over 7% for
Services:
the landlord
Lease Advisory
Services:
Lease Advisory
1 ALFRED PLACE WC1
Client:
City of London
Rent:
£481,900 pa
Size:
12,600 sq ft
Our role:
Secured an increase of over
37.5% on behalf of the landlord
Services:
Lease Advisory
COVENT GARDEN WC2
COUNTY HALL SE1
Client:
Private investor
Client:
Stonegate Pub Company
Rent:
£350,000 pa
Rent:
£275,000 pa
Size:
22,000 sq ft gym
Size:
8,000 sq ft restaurant
Our role:
Rental increase negotiated to reflect evolving
Our role:
£200,000 saving to client by challenging
health and fitness market in central London
Services:
42
Lease Advisory
valuation assumptions
Services:
Lease Advisory
43
Our London experts are
fierce negotiators on behalf
of our clients and have
a strong track record in
saving our occupier clients
millions per year in rent, and
increasing rental levels for
our landlord clients
65 WHITEHALL SW1
Client:
The Crown Estate
Rent:
£235,000 pa
Size:
7,847 sq ft
Our role:
Secured an increase in excess of 16% on
behalf of the landlord on the passing
rent. We negotiated a 10% discount for the
restricted user clause as opposed to a 30%
allowance at the 2005 rent review
Services:
Lease Advisory
Nigel Ball
OUR LONDON
LEASE ADVISORY EXPERTS
Nigel Ball
Central London Lease Advisory
+44 (0)207 484 8132
nigel.ball@bnpparibas.com
COTTONS CENTRE, TOOLEY STREET SE1
Colin Bell
Client:
Network Rail
+44 (0)207 338 4098
Rent:
£3.35m pa
colin.bell@bnpparibas.com
Size:
75,000 sq ft
Our role:
Savings to tenant in excess of £3m on lease
Colin Mumford
restructure by removing an intermediary party
City Lease Advisory
Lease Advisory
+44 (0)207 338 4279
Services:
City Lease Advisory
colin.mumford@bnpparibas.com
Bob Maxted Jones
West End Lease Advisory
+44 (0)207 338 4000
bob.maxtedjones@bnpparibas.com
PINNERS HALL, OLD BROAD STREET EC2
Client:
BNP Paribas REIM Germany
Rent:
£2.46m pa
Size:
67,000 sq ft
Our role:
Removal of tenant break and
lease extension for five years
Services:
44
Lease Advisory
45
Valuation
151 BUCKINGHAM PALACE ROAD SW1
Client:
Tabung Haji
Size:
200,200 sq ft
Our role:
Valuation for loan security
and year end accounts
Services:
Valuation
124 HORSEFERRY ROAD SW1
ONE SHELDON SQUARE W2
11-12 ST JAMES’S SQUARE SW1
Client:
Confidential
Client:
Confidential
Size:
195,000 sq ft
Size:
82,900 sq ft
Our Role:
Valuation for loan
Our role:
Valuation for loan
security and year end
46
Valuation
Channel 4
Size:
112,000 sq ft
Our Role:
Valuation for year-end accounts
Services:
Valuation
security and year end
accounts
Services:
Client:
accounts
Services:
Valuation
47
24 OLD BOND STREET W1
Client:
NFU Mutual
Size:
13,000 sq ft
Our role:
Accounts valuations
for NFU Mutual
Services:
Valuation
Our in-depth local market
and financial knowledge
enables us to provide clients
with a professional estimate
for their real estate assets,
whether commercial or
residential
Ben Moon
OUR LONDON
VALUATION EXPERTS
BELGRAVE HOUSE SW1
10 GROSVENOR STREET W1
Client:
Grosvenor
Client:
Grosvenor
Head of Valuation
Size:
270,000 sq ft
Size:
67,000 sq ft
+44 (0)20 7338 4410
Our role:
Valuation for internal purposes
Our role:
Valuation for internal purposes
ben.moon@bnpparibas.com
Services:
Valuation
Services:
Valuation
Ben Moon
Martin Francis
Valuation
+44 (0) 20 7389 6058
martin.francis@bnpparibas.com
Peter Sudell
Valuation
+44 (0)20 7338 4287
peter.sudell@bnpparibas.com
Gillian Bowman
Valuation
+44 (0) 20 7338 4100
gillian.bowman@bnpparibas.com
Vik Shukla
Valuation
+44 (0) 20 7338 4307
vik.shukla@bnpparibas.com
Robert Dagwell
Valuation
+44 (0) 207 338 4311
robert.dagwell@bnpparibas.com
48
49
Corporate
Services
ST HELENS, 1 UNDERSHAFT EC3
Client:
Aviva
Size:
83,000 sq ft (whole property - 315,000 sq ft)
Results:
Surrender of Amlin subleases on basement,
4-10th and part 13th floor
Services: Corporate Real Estate and City Agency
TEMPLAR HOUSE WC1
Client:
EDF Energy
Size:
96,000 sq ft
Results:
Lease assignment following the nil increase
rent review
Services: Corporate Real Estate, Lease Advisory and
Building Consultancy
PLANTATION PLACE,
30 FENCHURCH STREET EC3
Client:
Accenture
Size:
35,000 sq ft
Results:
Lease restructure with subtenant
Services: Corporate Real Estate and City Agency
50
51
Our occupier services team works with
clients to reduce costs by effectively
managing their property portfolio
across London
Johnny Dunford
PLANTATION PLACE,
30 FENCHURCH STREET EC3
Client:
Accenture
Size:
14,500 sq ft
Results:
Lease surrender from subtenant (where
subtenant would have exercised a break
option), simultaneous assignment of the
Accenture head lease
Services: Corporate Real Estate and City Agency
OUR LONDON CORPORATE SERVICES EXPERTS
8TH FLOOR, EUSTON SQUARE N1
Peter Halford
Chris Ramsden
Head of Corporate Real Estate
Asset Optimisation
+44 (0) 207 338 4090
+44 (0) 207 338 4839
peter.halford@bnpparibas.com
chris.ramsden@bnpparibas.com
Client:
TfL
Size:
8,200 sq ft
Johnny Dunford
Elaine Murphy
Results:
Surrender of head lease and re-
Corporate Real Estate
Corporate Real Estate
grant of new lease to 3rd party
+44 (0) 207 338 4312
+44 (0) 207 338 4041
Corporate Real Estate and Agency
johnny.dunford@bnpparibas.com
elaine.murphy@bnpparibas.com
Tom Bolland
Jeremy Langridge
Corporate Real Estate
Corporate Property Strategy
+44 (0) 207 338 4145
+44 (0) 207 338 4060
tom.bolland@bnpparibas.com
jeremy.langridge@bnpparibas.com
Services:
John Cummins
International Corporate Real Estate
+44 (0) 207 338 4088
john.cummins@bnpparibas.com
52
53
Rating
Our rating team deals with
some of the largest office
assessments and iconic
buildings in London
Jim Ruthven
5 ALDERMANBURY SQUARE EC2
Client::
Michael Page Holdings and others
Size:
130,000 sq ft
Our role:
We achieved rates savings in excess of
£2m between April 2010 and March 2017
for multiple occupiers. The success was
due to delaying appeal action so that rates
agreed on similar buildings in EC2 provided
a better indicator of rateable value than the
rents in the sub-let parts of the building
Services:
Rating
DAVID’S BRIDAL, WESTFIELD STRATFORD E20
Client:
David’s Bridal
Size:
11,000 sq ft
Our role:
A 63% reduction in rateable value from £427,500 to
£159,000 which produced £500,000 in rates savings.
The reduction was achieved by negotiating the Zone A
Services:
OUR LONDON RATING
EXPERTS
base rate with the Valuation Office Agency following
Jim Ruthven
stringent analysis of rental evidence within the
Head of Rating
shopping centre
+44 (0)207 338 4156
Rating
jim.ruthven@bnpparibas.com
Ian Allison
UNIVERSITY COLLEGE HOSPITAL, EUSTON ROAD NW1
Rating
+44 (0)207 338 4175
ian.allison@bnpparibas.com
Client:
University College London Hospitals NHS Trust
Size:
1.3m sq ft
Emma Nicholson
Our role:
£830,000 in rates savings between April 2010
Rating
and March 2017. This was achieved by a
+44 (0)207 338 4026
combining a number of strategies including
emma.nicholson@bnpparibas.com
merging assessments and negotiating reliefs
Services:
and allowances thereafter
Emily Francis
Rating
Rating
+44(0)121 237 1227
emily.francis@bnpparibas.com
54
55
Building
Consultancy
20 GRACECHURCH STREET EC3
Client:
Aviva Investors
Size:
27,000 sq ft
Our role:
Office floor refurbishment and dilapidations
claim against the outgoing tenant, resulting
in minimal lease void for the landlord
Services:
Building Consultancy
MOORGATE EXCHANGE EC2
Client:
Brookfield
Size:
235,000 sq ft
Our role:
Landlord representative co-ordinating the
strategy for tenant fit-out and occupation
Services:
Building Consultancy
30 CHURCHILL PLACE, LONDON E14
10 EASTCHEAP EC3
Client:
The European Medicines Agency
Size:
275,000 sq ft
Our role:
Agency acquisition, project monitoring of the
Client:
COIF Charities Property Fund
development, fit-out project management
Size:
18,000 sq ft
and dilapidations negotiations from the exit
Our role:
CAT A refurbishment of floor 1-5, upgrade works to toilets
Services:
of the old premises
and enlargement of the ground floor reception in order to
Building Consultancy, Project Management,
add value to the building and increase net lettable price per
City Agency and Corporate Real Estate
square foot office space
Services:
56
Building Consultancy
57
1 LONDON BRIDGE SE1
Client:
IBM UK Limited
Size:
180,000 sq ft
Our role:
Dilapidations negotiation resulting in a saving
Our building consultancy team has
an enviable track record of supplying
consulting services and delivering
complex projects for international
and national occupiers and investors
of over 85% from the landlord’s claim
Services:
Building Consultancy and Lease Advisory
Richard Worthington
26-30 FINSBURY SQUARE EC2
Client:
MEAG
Size:
180,000 sq ft
Our role:
Minimising our clients’ risk through
reinstatement cost assessments of their assets
Services:
OUR LONDON
BUILDING EXPERTS
Building Consultancy
Richard Worthington
Head of Building Consultancy
+44 (0) 207 338 4036
richard.worthington@bnpparibas.com
Tim Edmunds
Project Management
+44 (0) 207 338 4024
tim.edmunds@bnpparibas.com
22 BILLITER STREET EC3
Jim Forsyth
Client:
Henderson Global Investors
+44 (0) 207 338 4017
Size:
50,000 sq ft, £2.2 million spend
james.forsyth@bnpparibas.com
Our role:
Refurbishment of three floors to provide an open
Services:
Building Consultancy
plan Cat A office space resulting in a successful
Stephen Boulton
letting to a single tenant
Building Consultancy
Building Consultancy
+44 (0) 207 338 4015
stephen.boulton@bnpparibas.com
58
59
Property
Development
We have in-depth local market
knowledge combined with the
financial firepower and technical
know-how to source, purchase,
design and build any type of
development project
Thomas Charvet
6 PANCRAS SQUARE, KING’S CROSS N1
Axa Real Estate
Size:
350,000 sq ft
Our role:
Delivered our first property development
Thomas Charvet
in the UK and now fully let to Google. This
Property Development UK
was the biggest deal in Mid-town in 2014
+44(0) 207 338 4840
Property Development
thomas.charvet@bnpparibas.com
Services:
60
OUR LONDON PROPERTY
DEVELOPMENT EXPERT
Client:
61
Hong Kong
U.A.E
USA
FRANCE
Headquarters
167, Quai de la Bataille
de Stalingrad
92867 Issy-les-Moulineaux
Tel.: +33 1 55 65 20 04
Fax: +33 1 55 65 20 00
BELGIUM
Boulevard Louis
Schmidtlaan 2 B3
1040 Brussels
Tel.: +32 2 290 59 59
Fax: +32 2 290 59 69
CZECH REPUBLIC
Pobřežní 3
186 00 Prague 8
Tel.: +420 224 835 000
Fax: +420 222 323 723
GERMANY
Goetheplatz 4
60311 Frankfurt
Tel.: +49 69 2 98 99 0
Fax: +49 69 2 92 91 4
ALLIANCES
HUNGARY
Alkotás u. 53.
H-1123 Budapest,
Tel.: +36 1 487 5501
Fax: +36 1 487 5542
NETHERLANDS
JJ Viottastraat 33
1071 JP
Amsterdam
Tel.: +31 20 305 97 20
IRELAND
20 Merrion Road,
Dublin 4
Tel.: +353 1 66 11 233
Fax: +353 1 67 89 981
POLAND
Al. Jana Pawła II 25
00-854 Warsaw
Tel.: +48 22 653 44 00
Fax: +48 22 653 44 01
ITALY
Via Carlo Bo, 11
20143 Milan
Tel.: +39 02 58 33 141
Fax: +39 02 3706 9209
ROMANIA
Union International Center
11 Ion Campineanu Street
6th floor, 1st district
Bucharest 010031
Tel.: +40 21 312 7000
Fax: +40 21 312 7001
JERSEY
3 Floor, Dialogue House
2 - 6 Anley Street
St Helier, Jersey JE4 8RD
Tel.: +44 (0)1 534 629 001
Fax: +44 (0)1 534 629 011
LUXEMBOURG
Axento Building
Avenue J.F. Kennedy 44
HONG KONG
63 /F Two international finance 1855 Luxembourg
Tel.: +352 34 94 84
Center - 8 Finance Street
Fax: +352 34 94 73
Hong Kong
Investment Management
Tel.: +852 2909 2806
Tel.: +352 26 26 06 06
Fax: +852 2865 2523
Fax: +352 26 26 06 26
SPAIN
María de Molina, 54
28006 Madrid
Tel.: +34 91 454 96 00
Fax: +34 91 454 97 65
U.A.E
ABOU DHABI
Al Bateen Area
Plot n° 144, W-11
New Al Bateen Municipality
Street n° 32
P.O. Box 2742 Abu Dhabi
Tel.: +971 44 248 277
Fax: +971 44 257 817
ALGERIA *
NORWAY
AUSTRIA
CZECH REPUBLIC
***
DUBAI
Emaar Square
Building n° 1, 7th Floor
P.O. Box 7233, Dubaï
Tel.: +971 44 248 277
Fax: +971 44 257 817
HUNGARY ***
UNITED KINGDOM
5 Aldermanbury Square
London EC2V 8HR
Tel.: +44 20 7338 4000
Fax: +44 20 7430 2628
CYPRUS
ESTONIA
FINLAND
GREECE
IVORY COAST *
LATVIA
LITHUANIA
MOROCCO
RUSSIA
SERBIA
SLOVAKIA **
SWEDEN
SWITZERLAND
TUNISIA *
TURKEY
UKRAINE
USA
* Coverage via our alliance in Morocco
** Coverage via our alliance in Austria
***Covering Transaction, Valuation & Consulting
PLEASE CONTACT
Alliances
Florence Hesse
Tel.: +33 (0)1 47 59 17 38
florence.hesse@bnpparibas.com
Research
Christophe Pineau
Tel.: +33 (0)1 47 59 24 77
christophe.pineau@bnpparibas.com
BNP Paribas Real Estate: Simplified joint stock company with capital of € 380,010,544- 692 012 180 RCS Nanterre - Code NAF 4110B
CE identification number FR 666 920 121 80 - Headquarters: 167, Quai de la Bataille de Stalingrad - 92867 Issy Les Moulineaux Cedex
BNP Paribas Real Estate is part of the BNP Paribas Banking Group - November 2014.
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