Lewis Silkin has advised Daniel J. Edelman Limited on the lease of Francis House, London
03 November 2022
Lewis Silkin was engaged to act for Daniel J. Edelman Limited in the relocation of its London office, to a newly refurbished building in Victoria.
The multi-floor deal involved the acquisition of over 38,000 square feet of prime office space, being the majority of Derwent London’s building. The property was refurbished to shell and core condition, with Daniel J. Edelman Limited being responsible for significant Cat A works.
Owing to the size and nature of the letting, together with the centrality of the premises for the client’s long-term operational future, our client had a vested interest in, and therefore significant input into, the landlord’s works. This involved monitoring and inspection rights as well as the ability to negotiate the design development of the works themselves, including in respect of areas of the building not demised to the client, such as reception areas.
Daniel J. Edelman Limited has committed to taking a 15-year lease – signifying the importance of the office to the wider business, not just in the UK, but worldwide.
The documentation required multi-disciplinary support, not just from commercial real estate, but also significant input from construction and tax colleagues.
We were extremely pleased to have assisted the client throughout this process, which included managing Daniel J. Edelman’s exit from its other premises in London, as well as a short-term leasehold acquisition to cover the interim period between existing lease exits and completion of the extensive fit-out programme for the new space. As our client’s parent company is based overseas, Daniel J. Edelman was required to procure legal opinions from two sets of US Counsel, with whom we were pleased to work with from the outset to ensure the transaction ran as smoothly as possible.
The Lewis Silkin team was led by Real Estate Senior Associate Patrick Brown, with support from Clare Reddy, Owen Williams (Construction) and Matthew Rowbotham (Tax).
Commenting on the deal, Lewis Silkin’s Patrick Brown said:
“The transaction demonstrates Lewis Silkin’s significant experience in coordinating multi-office moves into a single headquarters and continues our long-standing relationship with an exceptional client in Daniel J. Edelman Limited.”
Claire Dobson, CFO at Edelman UK, said:
“It was a pleasure working with Patrick and the rest of the team, who brought their deep sector knowledge to ensure the process was as seamless as possible. Lewis Silkin continue to be a valued and trusted partner for us at Edelman.”