SONY: ACQUISITION OF ECHO PLACE

SIEE contacted Worthington Owen in early 2017 ahead of a Lease break at their current premises in mid-2019 where they had been in occupation for more than 20 years.

Worked with SIEE to consider various ‘Stay vs Go’ scenarios including detailed cost analysis and assessment of the deliverability of the various relocation options.  Echo Place selected as the preferred option but the building would not be deliverable until 2020, so agreement was contingent on agreeing terms with the current landlord for an extension of the existing break clause.

Complex negotiations on Echo Place were undertaken with the developer (Reach plc) and the forward funder (Select Group) to provide a finished shell (with Category A contribution) and damages for failure to hit timescales.