Mothercare, Hemel Hempstead

Client Name: Mothercare

Location: Hemel Hempstead

Services: Acquisition and relocation letting

Background

Having sold the Mothercare HQ in 2018 on a sale and lease back basis we were approached in late 2019 by the company which was at that point in administration to advise them on new offices.

Challenges

• The company taking the lease was essentially a new company (Mothercare Global Brands)
• The required size was for 125 people in a market where good quality office options were limited
• Greater lease flexibility than normal was required given the clients evolving business model
• Options not requiring capital expenditure were desirable
• There was a tight defined time frame as MGB had agreed to vacate their former HQ by June 2020
• The requirement was further complicated by the need to find space for a design team either close by or on the same site on a more flexible and cost effective basis

What we did

We canvassed the area, identified a number of options that could accommodate both elements of the requirement and shortlisted a number that could have worked well.

Ultimately the best option was one we had flagged from the start in the form of tenant space at Westside, Kings Langley. Here we were able to negotiate for our client to take fully fitted space at a highly competitive rental and rent free package, on very flexible terms. The ancillary space required was carved out of the ground floor for our clients and was also leased on competitive terms. Additionally we identified over flow parking and agreed terms for extra parking to meet our clients requirements.

We were able to identify this option as being available and the best fit as a consequence of our unique knowledge of the market in this location and our unrivalled building specific knowledge (we had originally let the space).