The Open University
Off-Market Transaction – Over £5M Saved
Camden, NW1
20,000 SQ FT
The Open University approached TSP because their office on Jamestown Road was empty. The pandemic had changed how they worked, and they no longer needed the building: costing them over £1m each year in rent and service costs.
We knew that Dr. Martens needed more space in Camden, so we arranged for them to view the space. We then negotiated terms for the lease assignment. This included successfully securing a licence to assign from the landlord (Labs).
The off-market transaction saved the OU over £5 million in rent, service charges and security costs.
“We found TSP thoroughly professional throughout the successful assignment of the lease on our Camden office. TSP helped to significantly reduce our operating overheads and made a major contribution to our restructuring post-pandemic. They were pleasure to work with and we’d thoroughly recommend them.”
Dorian Holloway, Director of Estates – The Open University
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