A Change in Occupational Strategy at The Point, Paddington

A change of business strategy has far-reaching implications for this client in central London

1st July 2024
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From their roots in social housing, A2Dominion is a housing association committed to providing homes that are safe, high-quality and sustainable, with over 8 decades of experience.

A2Dominion were determined to embrace a forward-thinking approach to agile working for their team. Recognising the shift to hybrid work and the benefits to employees of working from home, the business opted to pursue a new occupational strategy. Just a small matter of the 28,000 sq. ft. of grade A office space in a prime Paddington location that they needed to exit from.

Exit Strategy for Long Lease

Like any prime location, this space came with a long lease and many millions of pounds of financial liabilities. A2Dominion needed an exit strategy that would minimise the cost implications of the space that they occupied on the 7th and 9th floors of The Point in Paddington and Jaggard Macland were able to devise a solution that would enable the strategy change at the lowest possible cost.

Jaggard Macland were able to identify the best solutions for the business and handle the complex negotiations with the landlords. A full assessment of the existing position was undertaken and a strategy was formed. The 9th floor space was fully fitted and in great condition so it made sense to market this and find a new tenant. Landlord consent was required to assign the lease and Jaggard Macland handled all negotiations, as well as the marketing of the suite. For the 7th floor space, a lease surrender was the most cost-effective option and Jaggard Macland also negotiated this.

“Jaggard Macland have been instrumental in providing strategic solution which has allowed A2Dominion to exit our central London office and utilises our existing office portfolio to it full potent.” Carl Hodgkiss, Head Of Facilities

Significant Savings

A2Dominion retains some London office space for its team and were delighted that Jaggard Macland helped to drive forward its agile working policy, boosting employee retention and wellbeing and reducing costs. The strategy Jaggard Macland devised has brought about a saving of £3.4 million per year for A2Dominion.

If you’re looking for help with your occupational strategy and want to explore different options, you can contact:
Simon Harper, Head of Tenant Advisory

Direct Line: 01494 689614
Mobile: 07801 109649
Email: SRH@jaggardmacland.co.uk