Cinven - Headquarters acquisition
Client
Cinven Ltd
Area of Advice
Tenant representation services
Details
Drivers Jonas was instructed by Cinven, one of Europe’s leading private equity providers, to search for 1,000 sq m of high quality office space in the Paris central business District. We were also responsible for the project management of the office fit out for the new premises. Finally we assisted Cinven in the exit strategy of the existing facility.
Drivers Jonas has had a long term relationship with Cinven as their property advisers in The UK, France and Germany. We also assisted Cinven in their search of offices in Milan.
Our Role
Our role was to assist the client, both in London and in Paris, in the definition of the brief and budget. The brief was challenging and demanding in terms of location and choice of building.
We undertook a full search of offices which could fulfill the brief and after 24 months of search we were finally able to procure accommodation in the same building that Cinven was occupying at the time of the search. This eased the due diligence process as the building was well known from Cinven. However, we managed to improve the terms of the lease (as compared to the existing lease) with particular reference to the reinstatement liability.
We also needed to keep some flexibility in managing their move to their new premises to take into account the time which was necessary for their fit out.
We managed the fit out and ensured that we obtained all the necessary consent from the landlord.
website
www.cinven.com