Tata Communications is a global provider of telecommunications solutions and services. The $2.9bn company which is headquartered in Mumbai and Singapore, has 8,500 employees across 38 countries and is part of the $103.3bn Tata Group. Its telecommunications network spans the globe and includes more than 500,000 km of subsea fibre and more than 210,000 km of terrestrial fibre.
Having helped Tata Communications (UK) Limited relocate its London operations from Docklands in to 18,600 sq ft offices in a more central City of London location previously, MWRE was re-appointed to acquire premises to serve as a new European HQ for Tata Communications. The catalyst for the move was Blackstone’s purchase of 20 Old Bailey, EC4 from Mitsui Fudosan, with its plans to extend and reposition the building which would require all of the existing occupiers, including Tata Communications, to vacate at lease expiry.
MWRE’s brief was to identify premises in the order of 15-20,000 sq ft which might be available on a maximum 5-year lease term, and in order to mitigate the cost of fitting-out any new offices (typically from a landlord’s standard Cat A finish) MWRE was tasked with identifying accommodation that had been pre-fitted and which could therefore be re-used and/or adapted to Tata Communication’s specific needs.
MWRE successfully negotiated for Tata Communications to acquire 16,600 sq ft fully fitted-out space at Vintners’ Place, 68 Upper Thames Street, EC4 on a new 4.5 year short-term sublease from Getco Europe Limited. Since Getco had themselves only occupied the premises for a very short period, Tata Communications were able to benefit from a virtually brand-new office fit-out which included structured cabling, comms room, kitchens, boardroom, private offices and meeting rooms and reception area. The offices were also taken fully furnished generating huge additional cost savings for the business.
“This is probably the best office we have in the whole world.” Vinod Kumar, Managing Director and CEO, Tata Communications.