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14 DECEMBER 2021
Grosvenor has become one of the first businesses to partner with Insurami to offer deposit-free leasing to tenants.
The company, which supports nearly 1,000 businesses in addition to thousands of residents and workers each day, will offer tenants the option of choosing a Deposit Guarantee as security for the lease, rather than a traditional cash deposit.
By paying a small monthly fee instead of locking up cash in a deposit, tenants can save over 95% of upfront deposit costs, whilst Insurami’s Deposit Guarantee pays out to the landlord in the event of a default.
Grosvenor is trialling the offer at its first fully serviced office 25 EP (25 Eccleston Place, SW1), in Victoria, London. The 30,000 sq ft building sits within the popular Eccleston Yards, and accommodates 600 members across private offices, open plan co-working spaces and meeting rooms.
Charles Howard, Director of Offices, Grosvenor said: “The pandemic has accelerated demand for flexibility from landlords. It’s also tightened cashflow. Our tie up with Insurami is the latest in a series of innovations to ensure brands choosing Mayfair or Belgravia see how a landlord can be a valuable business partner, not just a provider of space.”
Majed Chaaraoui, CEO and Founder of Insurami, added: “As one of the most prestigious property companies, we are thrilled that Grosvenor is partnering with us to ensure their tenants can benefit from deposit-free commercial leasing. We’ve seen great momentum across the sector following our recent fundraise, and a surge in demand for Deposit Guarantees from both landlords and businesses resulting in a record Q4 for Insurami. It is partnerships with forward-thinking real estate companies like Grosvenor that underline the strength of our Deposit Guarantee product, which is setting a new market standard to offer landlords protection whilst enabling tenants to retain capital invested in their business.”
Grosvenor’s adoption of deposit guarantees sets a new standard in commercial leasing, offering a win-win solution that solves a major pain point for tenants. Insurami’s Deposit Guarantee enables deposit-free and seamless commercial leasing and are available across all asset classes, including offices, retail, logistics and operational real estate.
Insurami is working with over 20 landlords from institutional real estate owners to flexible office providers and achieved a record quarter in Q4 2021 with over £5m of referrals through the platform, following its recent £42m capital raise.
Grosvenor is a property developer, manager and investor – we create great places where communities, business and nature thrive.
In London’s West End, we support nearly 1,000 businesses and thousands of residents and workers each day. We also invest in new neighbourhoods elsewhere in London, Liverpool and across the South of England.
With a track record of over 340 years, we are part of an international property company improving property and places across many of the world’s leading cities, promoting sustainability within the built environment and enhancing the wellbeing of our customers and communities.
We are a values-led organisation which represents the Grosvenor family. Our work in property, alongside Grosvenor’s other activities in food and agtech, rural estate management and support for philanthropic initiatives, shares a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.
Thinking long term allows us to give equal weight to the environmental, social and commercial impact of everything that we do.
Head of Corporate Communications, Grosvenor Property UK
+44 (0)20 7312 2341 ext.6957