Trans World House complex - 100 City Road, London EC1

Dron & Wright acted in the late 1990s on behalf of the building owners of Trans-World House, Sophia House and other adjoining premises in City Road, London EC1 in putting together the leasing strategy. The majority of the buildings were empty and Dron & Wright undertook the marketing and letting creating leases through to 2010 but with break options in December 2005.

In 2002 the ownership changed to a company within the Group of London Merchant Securities plc and Dron & Wright were retained to act for the new owners.

Following a strategy review in 2004, it was considered that to obtain possession in December 2005 for redevelopment would not be conducive with maket conditions to contemplate any form of redevelopment. Consequently, Dron & Wright were charged with renegotiating the leases within the complex to accommodate a rollling break from December 2007. This needed to be achieved before the December 2005 date to ensure continuity of tenancies.

Dron & Wright successfully completed this transfer retaining occupancy and therefore income on 80% of the total complex.

This Asset Management work was undertaken combining the appropriate resources from our Agency and Property Management  and Asset Management Departments.

Contact:

Ian Hack