Brighton’s Biggest Ever Commercial Property Deal!
The UK’s fastest growing online accountancy firm Crunch Accounting has secured almost 18,000 square feet of new office space in the heart of Brighton, with assistance from leading regional law firm Coffin Mew.
According to Flude Commercial, joint agents for the landlord, the transaction is the city’s biggest value commercial leasing deal to date, worth in excess of £6 million.
Following the lease, Crunch Accounting has moved its Brighton operations to Telecom House, having acquired the whole of the first floor along with 32 parking spaces. Crunch acquired the new space after another year of rapid business growth – it now has a 180-strong team and its turnover expanded by 34% from 2015 – 2016. Crunch has also featured in the Sunday Times Tech Track 100 list of fastest-growing technology companies for the past two years running.
In a break from the norm, Coffin Mew was able to negotiate an extended 10-year lease of the property, with the option to renew for a further 10 years. The standard commercial property lease term is in the region of five years.
Crunch Accounting has carried out extensive refurbishment of its new office space and has contributed towards renovation works in the reception area, putting its stamp on what will be its base for the next decade.
Darren Fell, founder and CEO of Crunch Accounting commented: “Given that there’s virtually no large office space available in Brighton, I was over the moon when we found a suitable building to house our fast expanding business. Telecom House ticked all the boxes and we’re hugely grateful to Coffin Mew for negotiating what was a complex lease.
“We believe that Crunch has a bright future ahead; what better way to start than with Brighton’s biggest commercial property deal and a spacious new office!”
Hannah Bassett of Coffin Mew who advised on the lease added: “It is fantastic to see Crunch Accounting in its new location having been involved in the process from negotiations to signing the paper work and helping devise an exit strategy from its old premises.
Coffin Mew’s property team boasts a varied skills base, so it was great to be able to exercise each of those skills on such a complex and high value deal. We hope Crunch enjoys its new home!