One New Change ⇄ 85 London Wall

The Opportunity

In one of the more unusual transactions seen in the Central London office market, we were proud to represent two occupier clients in the single contract dual assignment, or as referred to in Rubix HQ – ‘Swap It Like It’s Hot’.

Rubix had been instructed by GC Partners to dispose of its lease over the 6th floor of One New Change, EC4. At the same time, we had commenced a stay vs relocate strategy on behalf of Advania UK, a leading IT services business whose workplace needs had evolved putting the office at the forefront of its growth plans and therefore outgrowing their offices at 85 London Wall, EC2.

While the instructions were entirely separate, our knowledge of both occupiers and both buildings revealed a unique opportunity: each party required exactly what the other was vacating.

The Solution

Advania was seeking an impactful building with broader amenities whilst accommodating its growing London footprint. One New Change, adjacent to St Paul’s Cathedral, offered the quality, connectivity and profile required for its next phase.  

Advania’s remaining short-term lease at 85 London Wall offered GC Partners short-term flexibility in an efficient and well-connected building.    

Rather than allowing both parties to enter separate marketing and leasing processes, Rubix identified the alignment early and brought the occupiers together. Acting across both mandates, we structured a solution that delivered certainty and efficiency for all parties involved.

The Result

• Advania secured a headquarters building aligned with its growth ambitions.
• GC Partners completed its cost-saving strategy achieving vital flexibility.
• Significant time, cost and operational disruption were reduced across parties.

A Rubix Approach

Transactions such as this are only possible when teams collaborate to think outside the box.

Rubix was able to identify a unique opportunity that may otherwise have been missed and deliver a solution that created value for all the parties involved.

“By aligning the requirements of both occupiers, this transaction unlocked significant value at a time of constrained supply, rising construction costs and strong demand for high-quality office space. It demonstrates the kind of lateral thinking and collaboration that enables us to achieve the best possible outcomes for our clients.”

Chris Commins, Partner, Rubix