Kotra

Navigating a complex brief with precision

KOTRA is the Korea Trade-Investment Promotion Agency, a state-funded organisation operated by the government of South Korea. When the building housing their London office was earmarked for redevelopment, they had no choice but to relocate and the process of doing so came with requirements that went well beyond a typical office search.

The Challenge

As a government-backed institution, KOTRA's decision-making process was more involved than most. Any shortlisted property had to meet specific criteria before it could be formally considered and those criteria had to be presented to and approved by the South Korean government. That added a layer of rigour and documentation to every stage of the process, and meant that clarity, thoroughness and patience were as important as market knowledge.

Our Approach

We comprehensively covered the Midtown market, presenting a range of options across multiple viewing tours before curating a shortlist of three properties that met KOTRA's requirements. Throughout the process we were mindful of the institutional constraints making sure every option was presented with the detail and transparency needed to support internal sign-off at each stage. Once the shortlist was agreed, we opened simultaneous negotiations on all three properties, maintaining competitive tension while keeping the process manageable for the client.

The Solution

KOTRA selected 1 Southampton Street, a well-located Covent Garden office that met their criteria on all fronts. We persuaded the landlord to make amendments to the newly fitted floor, improving the layout to suit KOTRA’s brief.

The Outcome

Despite the added complexity of a government approval process, the relocation was completed smoothly and on time. The result was a new London home that met the brief, commercially, practically, and institutionally.