125 Finsbury Pavement EC2

We recently advised a European bank, a client for over 20 years, on two lease renewals.  With statutory renewal rights being protected, we advised on the strategy to secure the most favourable terms whilst market values were falling.  The landlord proposed a rent increase of 16%, but we eventually agreed a headline rent 7.5% below the previous rent with substantial financial inducements.  Taking account of favourable Interim Rents and these financial inducements, the savings achieved were equivalent to over two and a half times the annual rent which the landlord originally proposed.