mayfair report 2011

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ask-re LLP The Property People 2012 | www.ask-re.co.uk

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Page 1: Mayfair Report 2011

ask-re LLP The Property People 2012 | www.ask-re.co.uk

Page 2: Mayfair Report 2011

ask-re

About Us Ask-re is one of the UK’s most effec-

tive property consultancies and was

founded years ago by like-minded

hands-on property people. Since

then, the company has provided

business-driven real estate consul-

tancy and service delivery to about

800 unique clients within the UK. We

provide national reach, transferable

skills and local delivery.

We are the standout firm for unlock-

ing the most complex and difficult

real estate problems and converting

problems into benefits, reducing

cash outflows and liabilities, in order

to make financial gains out of ad-

verse situations.

Our unique approach combines stra-

tegic property and business knowl-

edge, all designed to add value and

reduce the cost of commercial

property, occupation and to advise

ownership. We cut cost and create

value.

Our client-facing team is made up of

a combination of property and busi-

ness professionals all focused on de-

livering excellence through creative

and effective advice. These factors

are underpinned by the utmost in-

tegrity and close relationships, as

well as applying embedded special-

ist real estate and negotiation skills.

Our results and our creative skills are

outstanding in our sector, as happy

clients frequently tell us.

We believe in always working cost-

free and leaving no loose ends to

snag the client’s future needs. Our

unique selling point is that ask-re al-

ways makes monetary gains for our

clients and will never be a net cost,

only a net benefit. No other consul-

tancy of similar stature can offer this,

or think and act as effectively and

beneficially.

And we love what we do! More im-

portantly we love what YOU do!

WELCOME

L ondon Fashion Week is an oppor-

tune time to get together with our

many friends, colleagues, advisers

and clients for a chance to catch up

on news, enjoy the collections and

perhaps head down to a few of the

after-show celebrations.

Our focus on clients includes linking

them up where we can, in order to

“give back” and add value by mu-

tuality of interest. Working together,

including both social and business

networking, identifies common

benefits and concerns as well as

latent/creative alliances.

In simple property terms, this can

mean coming together to hold back

the rise in operating costs, such as

business rates and service charges;

to be aware of the greater cost im-

pact of rising rents and dilapidations

at lease-end; and more positively, to

acquire or dispose of trading prem-

ises and properties for investment

where costs and liabilities might be

converted over time to assets.

This is all our stock-in-trade and it

never goes out of fashion!

We encourage business collabora-

tion, bringing specialist designers

and retailers together with online or

web-based business, occasionally

even sharing premises to increase

strength in co-operation and the

benefit of shared costs. And of

course to entertain and meet in the

restaurants, clubs and coffee bars in

Mayfair, especially those of our cli-

ents!

We hope you like this snapshot of

ask-re in Mayfair and of the work we

do for some of our clients, for exam-

ple, Byoutifulyou.com which we

have featured here. London Fashion

Week has been and gone we now

make the most of the Summer’s end

and the arrival of the new season’s

inspirational Autumn and Winter!

ask-re the property people llp

Page 4: Mayfair Report 2011

THE MAYFAIR REPORT 2011

INTRODUCTION

W e act for many occupiers in

Mayfair on projects in retail,

leisure (restaurants and clubs) as

well as offices for occupiers. We

keep a close eye on the markets

and trends to allow us to tailor our

advice to our clients on important

lease events such as rent reviews,

breaks and lease ends so as to

adopt the best strategy. We have

set out a brief commentary on the

markets that we trust will be of assis-

tance.

RETAIL

The luxury retail market remains

strong and in the last year, prime

rents in locations such as the west

end of Oxford Street and South Mol-

ton Street have seen substantial in-

creases of about 20%. The highest

rents still remain in Bond Street at

about £950 zone A but other streets

such as Conduit Street are also see-

ing rental increases.

Vacancy rates are very low and

demand is illustrated by the £1.7m

“key money” paid in the middle of

this year for a unit in New Bond

Street.

Locations such as Mount Street have

also seen sharp increases of some

30% in the last year. This is a culmi-

nation of demand from global

brand names, the improvement in

the street scene through the Grosve-

nor’s pavement works and the nil

With the combination of demand

from the luxury sector and a low va-

cancy rate, we expect rents to con-

tinue to ease upwards and push

established retail sectors such as art

galleries to fringe locations.

Due to this growth, rent reviews

have been very fiercely contested

as we have found from our own ex-

periences on a major unit in Mount

Street and we suspect will become

even more so. Locations such as

Bruton Street have various reviews in

the next two years which we antici-

pate will also prove to be extremely

contentious. Occupiers should not

delay in dealing with these matters

but should instruct surveyors early to

protect their interests.

LEISURE

Occupiers have seen very limited

rental increases on their rent reviews

in the last couple of years. This may

primarily be because there have

hardly been any open market let-

tings in Mayfair upon which land-

lords have been able to rely to

prove rental increases on review.

It will also be interesting to see how

this market responds to one of the

very few open market lettings that

has taken place in Mayfair, that be-

ing of former bank premises in North

Audley Street at a rental level lower

than many occupiers are already

paying from historic rent reviews.

This has had a direct effect on a rent

review arbitration in South Audley

Street and the combination of the

two is likely to have a major effect

on various other rent reviews that

remain outstanding to the benefit of

occupiers.

Shorter unexpired lease terms are

becoming very much an issue of

contention as they limit the ability of

the occupier to amortise its fit-out

costs over the length of the short-

term lease to be assumed on rent

review. Occupiers in such positions

are finding this an opportune time to

negotiate with their landlords to ex-

tend their leases, a situation with

which we are actively involved in a

number of cases.

OFFICES

Average rents for grade A accom-

modation have continued to grow

steadily during 2011 due to a short-

age, particularly in Mayfair, of top

quality space. Over £100 psf has

been achieved as a headline rent in

one particular development in May-

fair.

There is a combination of a lack of

space under construction in Mayfair,

improvements in tenant demand

and vacancy rates at their lowest

level since 2008 and the demise of

Lehman Brothers. Consequently, the

expectations are that this level of

rent will be achieved in more in-

stances towards the end of 2011 for

top quality offices. This is likely to

drag up other office rents in the

area.

It is important that any occupiers

with rent reviews or lease renewals

coming up in the next year or so do

not allow these to drag and allow

landlords to benefit from such rental

growth by delaying for as long as

possible quoting revised rents and

opening negotiations. We are

therefore taking an aggressive

stance on behalf of our occupier

clients in relation to such events and

taking precipitative action to pro-

tect our clients’ interests. We urge

tenants to look at their lease events

early and not wait until the landlord

quotes a revised rent.

ask-re the property people llp

Chartered surveyors and corporate

real estate consultants

ask-re

Page 5: Mayfair Report 2011

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Page 6: Mayfair Report 2011

LONDON FASHION WEEK JERMYN STREET: HEART OF ST JAMES

F or some Milan is the world’s fashion

Mecca, for others it is New York,

but all eyes are on London as the city

struts its stuff.

With London Fashion Week the fash-

ion elite have descended on the

capital to judge the offerings of the

world’s greatest designers.

Fashion followers have been waiting

in anticipation to see if it will be the

flashy experimental showcase of sea-

sons past, or whether a return to British

modesty will take over the catwalk.

The reinvention of classic style was

sparked by tough economic times

and has restored faith in quality with

buyers frowning upon flash and em-

bracing subtle suits and well-cut clas-

sics.

This reawakening of British style in no-

where more epitomised than in St

James’s Jermyn Street, where leading

fashion retailers showcased the ‘Art of

Being British’ with a garden party and

fashion show.

As guests sipped Pimm’s and learned

the art of cigar-rolling, the street’s

retail stalwarts like Harvie & Hudson

showcased their wares to the stylish

patronage who joined the soiree.

Having been established since 1964

with two stores in the renowned men-

swear destination, the company con-

tinues to run a bespoke department,

which still cuts shirts on site at the 77

Jermyn Street store, second to none.

“I’ve noticed quite

a response from

customers ”

But as others have struggled in recent

times, the company - which also has

stores in Lime Street and Knights-

bridge – has gone from strength to

strength, including the launch of a

new website to access growing de-

mand for quality shirts and men-

swear.

Direct descendent of founder Thomas

George Harvie, Richard Harvie has

worked in store for several years and

attributed this success to youngsters

rediscovering the stylish street and its

long-running businesses and a return

to more formal and serious dress

code by younger city businessmen.

“Jermyn Street has always been famil-

iar probably more with the gentry

and while elder chaps – I’m glad to

say – are still with us, I’ve noticed

quite a response from customers

we’ve never seen before,” he said.

“The first reaction to the recession was

the return to very conservative dress,

but I think now that we’ve been

through that phase of real austerity

we have got to a point where people

are looking for individuality.

This reawakening of British style in no-

where more epitomised than in St

James’s Jermyn.

“I’ve noticed a big upturn in people

buying things like tweeds, bow ties,

cravats, silk scarves, silk handkerchiefs

and all things considered to be quite

old school and they have taken on a

ask-re

Page 7: Mayfair Report 2011

“I’ve noticed a

big upturn in

people buying

things”

a compelling modern aesthetic

and ultimately offering a wearable

wardrobe in a style intrinsic to the

Matthew Williamson brand’.

Stella McCartney’s latest collabo-

ration with sportswear brand Adi-

das will also be presented during

London Fashion Week.

Though not ones to boast, the com-

pany say they are an ‘all round

gentleman’s haven’ and even offer

a shoe shine, wet shave and bar-

ber service at their Lime Street store

– quite a shopping experience for

the modest man-about-town!

London’s other upmarket fashion

districts like Jermyn Street, Piccadilly

and Mayfair will also be on parade

as images of models and celebri-

ties are beamed around the world

during Fashion Week.

As the city’s high streets look to

cash in on this world class fashion

base, celebrated British designers

will be pushing their new collections

to savvy buyers, media and celeb-

rity clients, as well as visiting cogno-

scenti on the trail of the best of new

British design talent.

Local property consultants ask-re

The Property People LLP, based at

Bond Street, will be out and about

catching up with their local design

and fashion house clients, includ-

ing, Harvie & Hudson, Carolina

Herrera, Diane Von Furstenberg

and Avi Rossini.

Fashion Week favourite Matthew

Williamson - who has a store on

Bruton Street in the fashion haven

of Mayfair – has parade their latest

styles with a catwalk show at Som-

erset House.

The internationally renowned de-

signer recently announced his first

foray into menswear design for

Spring Summer 2011 after his well-

received collaboration with H&M in

2009 and a capsule collection

launched exclusively with Harrods

in March 2010.

Also building on the celebrated

heritage of British couture, the col-

lection looks to forge ‘a seamless

hybrid of indispensible classics with

ask-re

Page 8: Mayfair Report 2011

FASHION

FAVOURITES

Jermyn Street After having a bespoke shirt cut on

site at Harvie & Hudson’s store at

number 97, pop over to The Weiss

Gallery, a leading dealer in Tudor,

Stuart and North European Old

Master portraiture.

Bruton Street British fashion favourites Stella

McCartney and Matthew William-

son both have stores in Bruton

Street and here you will also find

Italian fashion house Brioni, local

favourites Matches Fashion and

Diane Von Furstenberg who is

known for her iconic wrap dresses.

Bond Street Known as a luxury shopping haven

Bond Street is home to fashion store

Boudi stocking leading global

brands including True Religion, Ed

Hardy, Roberto Cavalli and more.

After all the shopping perhaps

head for some lunch at the exclu-

sive local clubs and restaurants also

advised by ask-re. Japanese res-

taurant Umu offers a traditional

‘tasting’ menu as well as sushi and

sashimi among the stylish retailers in

Bruton Street. Not far from there is

Scott’s at Mount Street, Mayfair, an

outstanding seafood restaurant

using fish caught only from sustain-

able sources. Also in Mount Street is

the exclusive George club for pri-

vate members only!

ask-re

Page 9: Mayfair Report 2011

Multi Coloured Square Cufflinks

Harvie & Hudson

£32.50

Page 10: Mayfair Report 2011

ask-re Clients in Mayfair

Page 11: Mayfair Report 2011

ask-re Clients in Mayfair

Page 12: Mayfair Report 2011

ABBOT MEAD VICKERS BBDO LTD 151 Marylebone Road

CLIENT BRIEF Despite the 2005 lease rent being set some way

above the 2005 Rating List ratable value (the broadly

equivalent open-market rental hypothesis used for

property taxation); and despite two other large Estate

Agent businesses being unable to shift the ratable

value downward and who thus “pulled” their efforts;

Ask-re The Property People LLP put their property tax

specialists into action in 2008 to re-examine these and

re-appeal the ratable value used for the calculation of

business rates tax liability.

RESULT A stunningly good result, unexpected by the already-

advised client, of approximately £350,000 of savings

was achieved by negotiation and delivered in early

Spring 2010 back to a delighted client, perfectly timed

for Q1 training results! £350k straight into the bottom

line was a pretty satisfactory boost for the new 2010

year! This fantastic achievement was unexpected and

a great surprise following the previous unsuccessful

appeals. At Ask-re, our specialists never lose focus,

never give up and always get a result for the client –

even if we have to go through Valuation Tribunals and

Arbitrations to get there! But even so, local London

management at AMV BBDO and Omnicom Group

Europe were very quick to praise our efforts.

Colin Fleming, Finance Director AMV BBDO said:

“Ask-re really smashed it! We’ll definitely be using their

services again!”

We have had bigger results (here, we reduced

the tax base from £1,380,000 RV to

£1,270,000) but rarely have our skills been so

warmly and deeply appreciated by a big corpo-

rate business. AMV BBDO is of course a world-

class media business parented by Omnicom

Group (the World No.1 media conglomerate) so

our cost-savings work is usually way down the

agenda. For us, an aggravation to the client

was a positive tactical advantage for us – being

late! Instead of rushing the negotiations, we

instead created opportunity by going slow on

local rateable value negotiations, so as not to

throw away our appeal rights on a non-result,

instead making the evidence elsewhere show

reduced rateable values and thus by compari-

son getting the tax authorities to cut our client’s

bills substantially.

Had we rushed unprepared, we might well not

have been successful or to a much lesser ex-

tent. By the time we decided to strike, the actual

lease rent had been forgotten and discarded in

favour of better evidence we ourselves had

created, all very satisfactory.

And now for the 2010 revised tax base – we’re

quietly honing our blade now but slowly, as it

may not glint in the light of day until next year or

2010 – but when it falls, so will our client’s tax

liabilities and its property costs!

The Ask “difference” is results and track record

borne out of effective performance specialist

experience and professional client service – we

look forward to adding to it.

ask-re

ASK-RE Ask-re is one of the UK’s most effective property consultancies and was founded years ago by like-minded hands-on property people. Since then, the company has over provided business driven real estate consultancy and service delivery to about 1000 unique clients within the UK. We provide national reach, transferable skills and local delivery. WHAT WE DO We are the standout firm for unlocking the most complex and difficult real estate problems and converting problems into benefits, reducing cash outflows and liabilities, in order to make financial gains out of adverse situations. Our unique approach combines strategic property and business knowledge, designed to add value and reduce the cost of commercial property, occupation and ownership. We cut cost and create value. CONSULTANCY WITH CLIENTS Corporate Real Estate Services (CRES) is industry jargon for the special skill set for corporate occupiers of commercial properties. We match our skills-set to occupier issues and needs, producing bespoke solutions driven by purely individual needs and limited only by what the tenure and property conditions allow us to achieve. Our skills are particularly valuable and relevant during periods of downsizing or growing, whether disposing or acquiring, whether refinancing or releasing embedded assets. In addition to these more generalised scenarios, we offer specialist advice in matters such as capital allowances, lease restructuring and corporate finance either directly or with partners, as well as the embedded property specialists here at ask-re. OUR SERVICES ● Expert Witness Reports incl. Arbitrations ● Corporate Real Estate Services ● Investment in Property Assets ● Investment Property Asset Management ● Business Space Leasing/Disposals ● Rent Reviews, Lease Renewals & Valuations ● Business Rates Appeals & Tax Savings ● Planning and Development ● Dilapidations Negotiations ● Building Consultancy ● Smartspace (www.smartspace-uk.com) ● Globe/Reactive (www.globefacilities.co.uk) ● ædis (www.aedis-uk.com) ● Any Business Property Issue ? Please Just Ask! Design by aedis - www.aedis-uk.com the online and offline creative agency Edited by Samantha Freeman - Swartz

Page 13: Mayfair Report 2011

ask-re.co.uk

CLIENT BRIEF Our client, a well-known restaurant operator that occu-pies this well-known fish restaurant faced an extremely complicated rent review in which the premises had to be valued to the higher of retail or restaurant use. The client was faced with a huge increase with the landlord proposing a revised rent equating to 222% of the pass-ing rent. The landlord relied on substantial rental growth in the area and it was soon apparent that only the most robust of negotiations would succeed. It was further apparent, that by sticking to our honest opinions and doing the best for our client, there was no option but to refer the matter to arbitration. To further complicate matters the landlord raised a legal issue upon which we had to take legal advice via direct access to the bar. As part of our investigations, we investigated every property in the street, the leasing situation and the rental evidence appertaining. We also conducted an extensive search of restaurant evidence throughout the West End although we were already in possession of most of it. Extensive evidence was put before the arbitrator with our opinions, arguments, rental valuations. In the end, all the hard work was worth it. The result was a revised rent at some 40% below the landlord’s proposed rent and one that was approximately 20% below the landlord’s highest retail evidence and 30% below rental levels achieved shortly thereafter.

This review was also vital due to its potential impact on the rating assessment under the latest valuation list Furthermore, we achieved rates reductions for our client and other clients in the street resulting from the pavement works under-taken in the street.

It was also an important result bearing in mind the potential knock-on effect upon our client’s other business interests in close proximity to the prem-ises.

Resulting from our efforts, we are now in discus-sions with the landlord to extend the lease on preferential terms bearing in mind that our client is now paying a rent which is much less than current rental levels.

SKILLS

Rent Reviews

Expert Witness work – arbitration

Rating

Corporate Real Estate Services

ACTIONS

To secure a result substantially below prevailing rental levels.

Enhancing the value of our client’s lease hold interest.

Obtain notable rates reductions.

Protect our client’s other interests on nearby properties.

Save our client approaching £1.5m until the next rent review.

RESULTS

Our client’s interests protected and much money saved.

Ask-re hauls in a Fine Catch

ASK-RE Ask-re is one of the UK’s most effective property consultancies and was founded years ago by like-minded hands-on property people. Since then, the company has over provided business driven real estate consultancy and service delivery to about 1000 unique clients within the UK. We provide national reach, transferable skills and local delivery. WHAT WE DO We are the standout firm for unlocking the most complex and difficult real estate problems and converting problems into benefits, reducing cash outflows and liabilities, in order to make financial gains out of adverse situations. Our unique approach combines strategic property and business knowledge, designed to add value and reduce the cost of commercial property, occupation and ownership. We cut cost and create value. CONSULTANCY WITH CLIENTS Corporate Real Estate Services (CRES) is industry jargon for the special skill set for corporate occupiers of commercial properties. We match our skills-set to occupier issues and needs, producing bespoke solutions driven by purely individual needs and limited only by what the tenure and property conditions allow us to achieve. Our skills are particularly valuable and relevant during periods of downsizing or growing, whether disposing or acquiring, whether refinancing or releasing embedded assets. In addition to these more generalised scenarios, we offer specialist advice in matters such as capital allowances, lease restructuring and corporate finance either directly or with partners, as well as the embedded property specialists here at ask-re. OUR SERVICES ● Expert Witness Reports incl. Arbitrations ● Corporate Real Estate Services ● Investment in Property Assets ● Investment Property Asset Management ● Business Space Leasing/Disposals ● Rent Reviews, Lease Renewals & Valuations ● Business Rates Appeals & Tax Savings ● Planning and Development ● Dilapidations Negotiations ● Building Consultancy ● Smartspace (www.smartspace-uk.com) ● Globe/Reactive (www.globefacilities.co.uk) ● ædis (www.aedis-uk.com) ● Any Business Property Issue ? Please Just Ask! Design by aedis - www.aedis-uk.com the online and offline creative agency Edited by Samantha Freeman - Swartz

Page 14: Mayfair Report 2011

ask-re.co.uk

CLIENT BRIEF

Our initial instructions from the client were to dispose

of their existing Head Office at 105 Piccadilly W1. The

lease had 3 years to run until the expiry. Ask-re under-

took various marketing campaigns and as a result of

these, in a rapidly declining market, secured interest

from a FTSE 100 tenant to assign the lease on favour-

able terms, taking on a large service charge liability at

above market rent. On favourable terms having suc-

cessfully secured this interest, we were then asked to

acquire new premises in Mayfair. We negotiated mar-

ket terms on 52 Charles Street W1, just off Berkeley

Square, and secured a new 6-year lease with reduced

rent and a rent-free period.

Following simultaneous exchange of contracts for both Piccadilly and Charles Street ask-re’s building consul-tancy undertook the project management of the client’s fit out. They delivered, in an extremely short time frame, a high specification office space within budget enabling a seamless relocation to these new premises, using our specialist office fit- out and design team, Smartspace.

Following the move ask-re are now undertaking an

appeal and negotiation of 2005 business rates liabili-

ties at the new premises having already achieved a

successful result at Piccadilly. The appeal process will

then be undertaken following the 2010 Revaluation.

Finally, we are advising our client actively on Facilities

Management matters to ensure the office environment

remains well maintained and safe for the coming few

years.

Richard Shead, Director of Oxus Gold says:

'We saw the opportunity in a declining market

and decided to relocate our office to Berkeley

Square, our preferred location. Ask-re disposed

of our lease whilst securing offices in the square

on favourable terms, and ensured both the fit

out and office relocation were completed on

time, on budget and to a high standard. As a

business we're focused on day to day opera-

tions and ask-re's proactive and full-service

approach has made the move both a commer-

cial and operational success.'

SKILLS

Agency and business space leasing, business rates negotiations, project management and design, Facilities Management.

ACTIONS

To dispose of the large liability of the existing floor at a rent above market plus high service charge.

To acquire new premises on a flexible l ease on competitive market terms, within a short time frame.

Key issue for liability purposes was to ensure we could simultaneously ex change on both leases, which was achieved.

Key fit-out and furniture procurement delivered on budget ensuring a cost effective and successful relocation and “lift and shift” by Globe facilities.

RESULTS Great success for Oxus Gold and good outcome for Autonomy.

Ask-re delivers a GOLDEN result

ASK-RE Ask-re is one of the UK’s most effective property consultancies and was founded years ago by like-minded hands-on property people. Since then, the company has over provided business driven real estate consultancy and service delivery to about 1000 unique clients within the UK. We provide national reach, transferable skills and local delivery. WHAT WE DO We are the standout firm for unlocking the most complex and difficult real estate problems and converting problems into benefits, reducing cash outflows and liabilities, in order to make financial gains out of adverse situations. Our unique approach combines strategic property and business knowledge, designed to add value and reduce the cost of commercial property, occupation and ownership. We cut cost and create value. CONSULTANCY WITH CLIENTS Corporate Real Estate Services (CRES) is industry jargon for the special skill set for corporate occupiers of commercial properties. We match our skills-set to occupier issues and needs, producing bespoke solutions driven by purely individual needs and limited only by what the tenure and property conditions allow us to achieve. Our skills are particularly valuable and relevant during periods of downsizing or growing, whether disposing or acquiring, whether refinancing or releasing embedded assets. In addition to these more generalised scenarios, we offer specialist advice in matters such as capital allowances, lease restructuring and corporate finance either directly or with partners, as well as the embedded property specialists here at ask-re. OUR SERVICES ● Expert Witness Reports incl. Arbitrations ● Corporate Real Estate Services ● Investment in Property Assets ● Investment Property Asset Management ● Business Space Leasing/Disposals ● Rent Reviews, Lease Renewals & Valuations ● Business Rates Appeals & Tax Savings ● Planning and Development ● Dilapidations Negotiations ● Building Consultancy ● Smartspace (www.smartspace-uk.com) ● Globe/Reactive (www.globefacilities.co.uk) ● ædis (www.aedis-uk.com) ● Any Business Property Issue ? Please Just Ask! Design by aedis - www.aedis-uk.com the online and offline creative agency Edited by Samantha Freeman - Swartz

ask-re

Page 15: Mayfair Report 2011

A sk-re is one of the UK’s most effec-

tive property consultancies and

was founded years ago by like-minded

hands-on property people. Since then,

the company has provided business-

driven real estate consultancy and ser-

vice delivery to about 800 unique clients

within the UK. We provide national

reach, transferable skills and local deliv-

ery.

We are the standout firm for unlocking

the most complex and difficult real es-

tate problems and converting problems

into benefits, reducing cash outflows

and liabilities, in order to make financial

gains out of adverse situations.

Our unique approach combines strate-

gic property and business knowledge,

designed to add value and reduce the

cost of commercial property, occupa-

tion and ownership.

We cut cost and create value.

Corporate Real Estate Services (CRES) is

industry jargon for the special skill set for

corporate occupiers of commercial

properties. We match our skills-set to

occupier issues and needs, producing

bespoke solutions driven by purely indi-

vidual needs and limited only by what

the tenure and property conditions al-

low us to achieve.

Our skills are particularly valuable and

relevant during periods of downsizing or

growing, whether disposing or acquir-

ing, whether refinancing or releasing

embedded assets. In addition to these

more generalised scenarios, we offer

specialist advice in matters such as

capital allowances, lease restructuring

and corporate finance either directly or

with partners, as well as the embedded

property specialisms here at ask-re.

CONCLUSION

ask-re

Page 16: Mayfair Report 2011

HOLLY CROFT The Byou Interview

GIORGIO ARMANI’S Tribute To The Victims Of

Japan’s Tsunami

Page 17: Mayfair Report 2011

BYOUTIFULYOU.com

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Editor

Byou Team

SOPHIA HÉLÈNE PRICE Editor-in-Chief

ALEX ZAGALSKY Deputy Editor

Sara Stanford Fashion Contributor

Ann-Louise Ramsay Beauty & Lifestyle Contributor

SHERYL SIMMS Lifestyle Contributor

JULIANO ARAUJO IT Director

IBRAHIM ZAIDI Web Developer

AMROL B. MIAH Graphic Designer

Christian Dior Haute Couture

AW11/12

See the collection go to

Byoutifulyou.com

About Us

B youtifulyou.com is the online

magazine for women who want

to keep up-to-date with London

trends. The British capital is highly

regarded across the world for its

unique vibe and we ensure you

never miss a beat by bringing you

the very latest news and events, ex-

clusive online shopping deals and

competitions. Byoutifulyou.com is

accessible to all women, with con-

tent ranging from fashion, beauty

and lifestyle to entertainment and

events so whether you’re a devoted

fashionista, passionate about film

and cinema or just keen to know

what’s happening nearby, you’ll find

it all here!

Unlike others, we won’t fill your inbox

with adverts and products. Instead

we’ll send you a short weekly email

written by the Editor with a round-up

of the week’s features, allowing you

to browse the pages which interest

you, as well as the week’s exclusive

discount codes and competitions.

Our recently launched shopping

channel is packed with the hottest

collections as soon as they’re re-

leased so you can browse our pages

at leisure and use your exclusive

weekly discount codes to shop guilt-

free!

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comes to us and to give something

back to the community.

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Page 20: Mayfair Report 2011

Giorgio Armani’s Tribute to the

Victims of Japan's Tsunami by Sophia Hélène Price

H aute Couture Week is the pinna-

cle of the fashion season and last

week was no exception with re-

nowned designers from Elie Saab to

Azzedine Alaia showcasing their stun-

ning collections in the heart of

Paris. The elite crowd lunched at Les

Deux Abeilles, attended catwalk

shows at the Musée Rodin and sipped

cocktails at Valentino’s Castle of

Wideville but whilst it was easy to lose

one’s head in all the glamour, Giorgio

Armani brought his audience back to

earth with his Armani Privé Fall 2011

collection, entitled Hommage au Ja-

pon, which he dedicated to the vic-

tims of Japan’s March tsunami

A large percentage of Armani’s net

profit owes itself to the brand’s dec-

ade-long presence in Asia and al-

though Giorgio Armani had planned

to celebrate this success in May, the

event was cancelled out of respect

for the suffering in Japan. Whilst fash-

ion designers frequently make chari-

table gestures, Armani’s dedication

of his entire collection to the recovery

efforts in Japan was highly unusual.

The Italian designer was said to have

been ‘profoundly moved by the

tragic events’ of March’s

“Giorgio Armani

brought his

audience back to

earth ”

tsunami in which 23,000 were re-

ported dead or missing.

Taking place beneath the Palais de

Chaillot, VIP guests, among them

Anna Wintour, Katie Holmes and Cate

Blanchett, were seated in near dark-

ness for the duration of the show,

adding to the sombre nature of the

theme. Exquisite floral-print silk

dresses and suits were perfectly com-

plemented by Geisha style hair dos

and Philip Treacy’s origami-inspired

hats, followed by strong bustier

dresses reminiscent of Armani’s Janu-

ary haute couture collection.

Every detail of the 44 looks in the col-

lection had a Japanese feel whilst still

maintaining Armani’s trademark

modernist tailoring.

Black wool crepe blazers and straight

legged-trousers were finished off with

obi belts and stiff, geisha-style panels

added interest to the patent leather

bodices of his dresses.

The audience was visibly impressed,

Katie Holmes leapt from her seat to

give a solo standing ovation and

Anna Wintour was smiling broadly, by

what was clearly a very successful

show and undoubtedly an important

commercial move for the iconic de-

signer.

See Paris Couture Week

Fall Collection Gallery Byoutifulyou.com

BYOUTIFULYOU.com

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Giorgio Armani Haute Couture

AW11/12 Collection

Page 22: Mayfair Report 2011

Inside A Model’s Mind Life as a model

is not all fun and games by Sophia Hélène Price

Hi Holly, can you tell us a little about

how you started out in modelling?

I had been modelling on and off for five

years but I went to university and got

my degree in engineering before I de-

cided to move to London and pursue

modelling as a full time career. My mum

always told me to get my degree first

and I could try modelling afterwards, so

that’s what I did!

And how did you start out in London?

Well, I wasn’t sure whether to get pic-

tures done or exactly how to approach

an agency so I decided to just walk in

to places. Agencies always have walk

in hours and I went into Oxygen,

they signed me up there and then and I

have been modelling for them ever

since. I didn’t realise how lucky I was. I

know some girls really struggle but I did-

n’t have a problem.

What would you say is the hardest thing

about your modelling career?

I think it’s quite an unpredictable job so

it is not for the kind of person who

needs stability in their life. It’s also quite

a demanding job and people don’t

realise but it’s actually quite an anti-

social job because there is so much

competition.

What has been your favourite project?

I was booked to do a Vivienne West-

wood shoot and that was obviously

one of the biggest designer jobs so I

felt really privileged. It was quite funny

actually because I was modelling this

plain-looking t-shirt and I was made-

up with a crazy red lightning bolt

across my face and then they tried to

dress me after the make-up and they

were saying, ‘Please be careful with

that t-shirt, its worth £25,000!’.

When you do a shoot abroad do you

have time to visit anything or relax at

all?

No, you’re working all the time but I

do try and make time. When I was in

Paris I had never seen the Eiffel Tower

so I went really late one night. I was

exhausted but I just wanted to see it!

It’s not really like a holiday, you work

long days and by the time you’ve fin-

ished the sun has gone down anyway!

Do you have a preference between

catwalk shows and photo shoots?

I enjoy the variation. I like the

“people don’t realise but it’s actually

quite an anti-social job”

EXCLUSIVE: Stunner Holly Croft, 22, talks us through the

life of a successful model.

Page 23: Mayfair Report 2011

adrenalin rush of catwalk show and

there is something very unique about

wearing the designers’ clothes and

feeling important to them but I love

photo shoots because I can be who-

ever I want to be when I am behind

the camera. Catwalks are the lowest

paid jobs though and you have to

work

To read the full Interview

with Holly Croft go to Byoutifulyou.com

See Holly Croft’s

fashion scrapbook go to Byoutifulyou.com

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BYOUTIFULYOU.com

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BYOUTIFULYOU.com

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