Paul Smith Ltd has been a client of the firm for many years. Having bought for the company No.9 Albemarle Street, W1 when the opportunity arose to purchase the next door property at No.10 we did not miss it.
Despite fierce competition for the purchase we managed to secure the freehold for our client. We were then appointed to undertake a refurbishment of the tired property on the upper floors, leaving the renowned designer to concentrate on the retail and external elements.
The offices were occupied short term when we purchased the building and we negotiated exits for all of the tenants securing dilapidations from them as appropriate. We then worked with the appointed architect and project manager, as well as other professionals to turn the property into the equivalent of a Paul Smith suit. We knew the building was of high quality and that it would be offering the standard amenities appropriate for such a quality location but we needed to add a twist to make it stand out.
We managed to secure a three bedroom penthouse out of a redesign of the plant and roof area and then to secure two roof terraces for the offices occupiers. We managed to secure a bike store and shower facilities which have proven popular and even had a say in the artwork and chandeliers for the entrance hall.
We acted as employers agent throughout the planning and buildings stages attending all meeting to ensure that the property also met all the requirements for the office market.
Upon completion we acted as letting agents and secured rents well above that envisaged when we bought the building. We have been retained as managing agents and seek to ensure that the tenants are more than happy with the ‘lining fabric’ of the building so that when they come to renew their leases they want to stay long term.