Nabarro heads east with City HQ move confirmed

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  • If this debate were informed by knowledge of:-
    i) the length of the rent free period Nabarros negotiated;
    ii) the fit out contribution Nabarros is to receive;and
    iii) the number of tenant's breaks operable before 2025
    then one could make an informed judgment about the commercial terms.

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  • Ha,ha,ha, this thread is becoming more like mumsnet every day.

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  • A headline rent of £46 psf is not a bad rent in the current market.
    Due to market conditions there has been very little development recently (except for the tower developments, and they will be significantly more expensive than £46) and that lack of development has had an impact on the supply and demand dynamic i.e. there is very limited supply.
    There are no suitable buildings with rents below £40 in todays market.
    I still think Nabarro is a firm in desperate trouble trying to find it's place in the world, and I'm not sure if it has one, but on pure economics this is not a bad deal.

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  • The move to Theobalds Road was done on very favourable terms and the building was a huge improvement on the frankly awful conditions in Stratton Street. I was there for both and the location in Theobalds was never a real issue - people just got on with it and there was a real noticeable lift in confidence after we had moved in.

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  • The "lift in confidence" the last poster speaks of didn't last long. All soon realised the shiny new building was located in a barren wilderness. The firm never grasped the opportunities that the boom times of 2002-2007 presented. Barely any growth, zero direction, poor leadership. 10+ years on, new management, where is the firm going? Well we know the location, but as to direction, maybe the Nabarro stalwarts can tell us. Even if the rent is acceptable (a question better answered by others) what is new management's game plan to arrest the slide and move into positive territory.

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