LONDON, UK, August 30, 2009
/24-7PressRelease/ -- Acting on behalf of ISA Holdings, MERJS have successfully let the entire 2nd & 3rd Floors of 29-35 Rathbone St, W1 to Gibson Guitars for a further five years. Previous to the agreement, MERJS had been providing advice on the potential for refurbishment, however, having been able to secure strong terms ISA Holdings were happy in the current economic climate to secure the tenant in the building for a further 5 years. For further information visit http://www.merjs-agency.co.uk or call +44 20 7079 3976.
Located within the heart of Fitzrovia, opposite the Charlotte St Hotel, the property is notable for its exceptional floor to ceiling height and dedicated car parking spaces. "Due to the size of the available space in this commercial property, there was a lot of potential for refurbishment and re-working of the internal office spaces," commented Colin Becker, Equity Director for MERJS. "We advised the client on several potential options, but when Gibson Guitars were keen to commit to a five year lease, ISA Holdings decided to benefit from a stable tenancy agreement instead."
"There's no doubt that in these difficult economic conditions, commercial property landlords have to make critical decisions," Colin continued. "Now is an excellent time to invest in property refurbishment as the building industry has more availability, and therefore the labour costs are cheaper. However, if a good tenant is able to be secured for a solid five year period, stability of rental income is also very welcome."
About MERJS
MERJS is one of London's leading commercial property agencies, and is actively involved in selling and letting commercial property throughout Central London.
MERJS helps to identify and negotiate the most suitable office space to let for commercial tenants; including serviced office space requirements, refurbished offices in Central London, or a new commercial property development.
MERJS also advises a number of high profile organisations such as property companies, commercial developers, institutions and private commercial property landlords on acquiring and selling commercial investment property for sale. This involves access to a wide range of commercial investment opportunities and a detailed understanding of the Central London commercial property market.
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