Lease negotiation saves Exeter-based Toy manufacturer thousands of pounds

Exeter-based commercial property advisers Space recently successfully negotiated a lease renewal for Japanese toy manufacturer, Tomy, saving the company tens of thousands of pounds.

Tomy has been based at Hembury House, Pynes Hill, Exeter for the last ten years and approached Space in 2013 as their property lease was due to expire.

After a thorough audit of available alternatives, Space recommended that Tomy stay put and managed lease negotiations on their behalf. Space achieved a considerable rent-free period for Tomy as well as an overall rent reduction.

Damien Weight of Tomy commented: “We are delighted at the outcome achieved by Space. They got as a cracking deal, which has saved us a considerable amount of money and prevented us having to endure the cost and hassle of an office move.”

Tim Wadsworth, Director at Space, warns that there is an increasing shortage of available office premises in Exeter and recommends that any business owner with a lease or break option coming up within the next 18 months takes action now.

For more information contact Jessica Tarr at Space on 01392 256412 or email her at jessica@spacespace.co.uk.