Client: Norwich Union - Birmingham
Gerald Eve’s Birmingham office acted on behalf of Norwich Union in respect of their offices located in Birmingham City Centre. The Offices totalled 284.27 sq m (3,060 sq ft) at a current passing rent of £43,605 per annum.
After comprehensive negotiations it was settled at a nominal increase of £44,250 per annum. This reflected an increase of just 1.5%, off an initial proposed rent from the landlord of £50,787 per annum. This provided a reduction in excess of 91% on the initial proposed rental level and saving over £32,000 on this modest rental over the 5 years of the term.
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