Common Contracts

Heads of Terms Proposal

February 28th, 2017

• Filed
  February 28th, 2017

Overview: The proposal is for OFWAT to surrender their existing occupational leases for floors 17,18,19 & 20 with effect from 24th June 2015. OFWAT will enter into two new leases, one for the 17th floor and one for the 18th floor, commencing 24th June 2015 on the terms set out in this document, subject to completion of refurbishment of these floors. This will be facilitated by an Agreement to Lease setting out the following:-  OFWAT to vacate floors 17 & 18 and decant into the 19th & 20th floors no later than 28th February 2015 for a maximum of 3 months to allow Bruntwood to undertake the Refurbishment Works.  Bruntwood to undertake a comprehensive Cat ‘A’ refurbishment to a pre-agreed specification (similar to floor 7) which will include all common areas to the same standard as floor 7, including new W.C’s and shower room.  The refurbished office accommodation will include, secondary glazing, enhanced internal insulation, raised floors (where required) new HVAC (air conditioning) a