In Summer 2015, successful consultancy business Iceni Projects contacted their long-standing landlord and client, Estates & Agency on the basis their rapidly growing business had outgrown their existing premises on Charing Cross Road, WC1. Iceni wished to stay in a Zone 1 Central Location, but wished to operate an office over a single floor (they were currently across 3 floors in two separate buildings). They were further constrained by a conservative rent ceiling, but required Grade A office accommodation to attract staff and future proof their business.
E&A Securities sourced a disused and run down basement car park on Saffron Hill, EC1, with exceptional floor to ceiling height. The premises are situated less than 100 metres to the proposed Crossrail Station at Farringdon. The property was acquired off market on a subject to planning basis (for B1) and exchanged simultaneously with incoming tenant Iceni Projects on an agreement for lease.
Due to an exceptionally complex situation involving leaseholder legal and title issues, planning was unable to be submitted for over a year and then subsequently took over 9 months to achieve, due to extensive negotiations with Camden Council. This was predominantly relating to the recently adopted sustainability development policies.
Whilst the aforementioned process continued, E&A Securities and Iceni Projects worked closely with a high quality fit out contractor Base Interiors in order to merge CAT A and CAT B specifications. This allowed for substantial savings from the tenants perspective and allowed the build programmes to be merged to save on time as well as delivering an exceptionally high quality and bespoke commercial investment.
Iceni Projects occupied the premises in October 2018 after a process of 3 years and two months. A resounding and highly satisfactory conclusion for both parties, as well as testament to the skills and patience of the E&A Securities Team.