Background
ProspectUs is one of the leading providers of recruitment, training and database solutions exclusively for 'not-for-profit' organisations in London - Charities, Universities, Membership Organisations, Government and NHS Trusts.

The company went through a corporate sale and new management were faced with a range of property issues which hadn't been anticipated during the course of the acquisition and which provided for a range of specific business implications

Enable were initially asked to find ways to minimise the costs of the property base but our analysis of the contractual terms of their property liability revealed a break clause 16 months in advance with particularly onerous conditions attached for it to be exercised.

What we did

In order to advise on the most appropriate course of action we undertook a strategic review of

• the options available
• the costs
• the implications

Finding a solution that met with the specific business needs faced by ProspectUS was crucial. This included a review of:

• Location
• Facilities
• Building and business flexibility
• Team working
• Communication.

Following this analysis we concluded that the incumbent building was unsuitable to meet the growing needs of the business and we began to work on a solution to meet their cost and efficiency needs whilst ensuring minimal exposure risk from the terms of their lease.
Negotiations with the landlord were opened early in order to manage down the effects of the break conditions. A limited capital payment was negotiated in order to meet ProspectUS's obligations whilst providing for an early exit from the building.

At the same time a full appraisal of all possible relocation options was conducted which met time, business and budget requirements. From our review of the way in which the business operates, and the teams interact, a single floor solution was identified as opposed to the previous six floors occupied. Costs were immediately minimised through negotiation of a rent-free contribution from the new landlord and a premium from the outgoing tenant.

Our next objective was to ensure the smooth relocation of all staff to the new location, and this meant handling all interior design and project management to provide the facility on a turnkey basis on time and to budget.

Results

All costs of exercising the lease break were eliminated through the benefits and cost savings negotiated in the strategic relocation package. The result to the operational business was a much better building, maximisation of the business process and physical working needs, and a superior location with reduced ongoing property costs . Enable negotiated the terms of the lease to encompass maximum flexibility for the future, resulting in ProspectUS now having far greater control over their property portfolio, ensuring the property liability will not inhibit the business potential moving forward.