| baseSeats | 300 desks | Reported Harvey planning discussion | Used as the starting peak-occupant proxy; actual peak attendance is unknown. |
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| conversion | 10.7639104167 sq ft per m² | Derived Resource scenario method | Unit conversion; presentation rounds areas to the nearest 1,000 sq ft. |
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| vat | 0.2 potential VAT rate | Reported Unattributed broker market input | Rate used in supplied screen, not a tax opinion; taxable scope and recoverability unknown. |
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| buffer | 2 months | Assumption Resource scenario method | Planning contingency added to the longest reported delivery path. |
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| leaseStart | "works start" convention | Reported (verbal) Broker review call, 30 September 2026 (Resource and the London broker) | A lease is taken to start when works start, so rent-free, rates and service charge run through the fit-out and the term counts from signing. The broker confirmed this as the general assumption on 30 September. Negotiable: the broker has agreed deals where the tenant occupies under license for the fit-out (about six months) and the ten-year term starts on completion; not the norm. Whether any empty-property rates relief applies during works is Need to confirm. |
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| deposits.managed | [2,3] months of the all-in fee | Reported (verbal) Broker review call, 30 September 2026 (Resource and the London broker) | Serviced office: usually two months of the all-in fee, sometimes three; negotiable. |
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| deposits.bespoke | 3 months of the all-in fee | Reported (verbal) Broker review call, 30 September 2026 (Resource and the London broker) | Provider-built: more likely three months of the all-in fee, depending on covenant strength and the landlord. |
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| deposits.lease | [6,12] months of rent plus VAT | Reported (verbal) Broker review call, 30 September 2026 (Resource and the London broker) | Fitted office and direct lease: none if the signing entity shows net profit of three times the annual rent for the preceding three years; otherwise six to twelve months of rent plus VAT, aiming for six. A UK bank guarantee (a UK branch of a US bank is acceptable) or a parent-company guarantee can replace it; landlords are wary of a US-domiciled parent. |
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| deposits.covenantTest | 3 times annual rent, net profit, three years | Reported (verbal) Broker review call, 30 September 2026 (Resource and the London broker) | The usual test for waiving a lease deposit. Which Harvey entity would sign is Need to confirm. |
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| sdlt.bands | [[150000,0],[5000000,0.01],[null,0.02]] NPV upper bound / rate | Confirmed HMRC, Stamp Duty Land Tax: non-residential lease rent (NPV) bands; Finance Act 2003 Sch 5 paras 3 and 8 | Non-residential lease rent bands. |
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| sdlt.discount | 0.035 per year | Confirmed HMRC, Stamp Duty Land Tax: non-residential lease rent (NPV) bands; Finance Act 2003 Sch 5 paras 3 and 8 | Statutory temporal discount rate. |
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| servicedPerDeskCheck | [1221,1294,1367] GBP per desk per month | Reported Public asking prices, private suites in a King’s Cross serviced building | Asking prices for 43-, 67- and 109-desk suites; overlapping configurations, do not sum. Tests that the serviced benchmark at 50–60 sq ft per desk lands at a realistic per-desk level. |
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| leaseExtras.utilities | Need to confirm | Need to confirm Broker follow-up requested 27 September 2026 (via Resource) | Utilities (energy, water). |
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| leaseExtras.cleaningFM | Need to confirm | Need to confirm Broker follow-up requested 27 September 2026 (via Resource) | Cleaning, facilities management and reception beyond the service charge. |
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| leaseExtras.itSecurity | Need to confirm | Need to confirm Broker follow-up requested 27 September 2026 (via Resource) | IT, AV infrastructure and security beyond the furniture and AV allowance. |
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| leaseExtras.fees | Need to confirm | Need to confirm Broker follow-up requested 27 September 2026 (via Resource) | Professional fees: legal, agency, project management. |
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| leaseExtras.move | Need to confirm | Need to confirm Broker follow-up requested 27 September 2026 (via Resource) | The move itself and any overlap with the current space. |
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| mixed.core | 300 desks | Assumption Resource scenario method | Own lease sized for today’s reported ~300 desks; growth above it in serviced space. Whether the provider allows desks to be added and shed month by month is Need to confirm. |
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| programs.efficient | 90 sq ft per desk | Reported Unattributed broker market input | Low end of the reported conventional band (90) and serviced band (50). |
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| programs.balanced | 95 sq ft per desk | Reported Unattributed broker market input | Midpoint of the reported conventional band (95) and serviced band (55). 500 desks ≈ 47,500 sq ft conventional. |
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| programs.quality | 100 sq ft per desk | Reported Unattributed broker market input | High end of the reported bands (100 / 60). Area alone does not guarantee quality. |
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| arrivals.fast | [12,24] months to 500 / 700 | Assumption Resource scenario method | Illustrative high-speed growth, not a forecast. |
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| arrivals.base | [24,36] months to 500 / 700 | Assumption Resource scenario method | Illustrative central growth, not a forecast. |
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| arrivals.slow | [36,48] months to 500 / 700 | Assumption Resource scenario method | Illustrative slower growth, not a forecast. |
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| finance.discount | [6,8,10] % per year | Assumption Resource scenario method | Sensitivity rates, not Harvey WACC or an accounting discount rate. |
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| finance.escalation | [3,4,5] % per year | Reported Unattributed broker market input | Managed fees and non-rent costs compound annually. Lease rent held flat; reviews/renewals unpriced. |
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| finance.capitalSchedule | [[0,0.2],[0.5,0.5],[1,0.3]] progress / fraction of capital | Assumption Resource scenario method | Illustrative staged fit-out spend from works start to handover. |
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| finance.currentManagedPrice | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Harvey’s actual Fora price, services and current-period cash flow. |
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| finance.taxRecovery | Need to confirm | Need to confirm Private / property-specific inputs not supplied | VAT recoverability and taxable scope. |
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| finance.collateral | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Deposits / guarantees; cash and collateral, excluded from economic cost. Context only: Harvey’s UK accounts to December 2025 show a £691,258 refundable deposit on the current office. |
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| finance.balanceSheet | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Accounting lease liability and right-of-use asset need actual terms and finance review. |
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| routes.managed.rate | [190,275,300] GBP / sq ft / year | Reported Unattributed broker market input | Serviced benchmark, applied at serviced density (50–60 sq ft per desk); 275 is the source screen case. Whether the broker’s rate was quoted on that area or on a conventional-equivalent area is Need to confirm. Not Harvey’s current price; not retail desk pricing. |
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| routes.managed.term | 2 years | Reported Unattributed broker market input | Reported minimum enterprise term used as a scenario, not guaranteed flexibility. |
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| routes.managed.lead | [1.5,5] months | Reported Unattributed broker market input | Search/legals plus alterations. |
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| routes.managed.capital | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Incremental customization, security, move and fees; standard fit-out is included in bundle. |
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| routes.managed.exit | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Notice, exit fee, reinstatement and contraction rights. |
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| routes.managed.serviceGap | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Enterprise service limits, meeting/event overages and separate Harvey requirements. |
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| routes.bespoke.rate | [180,220,250] GBP / sq ft / year | Reported Unattributed broker market input | Managed route guide; 220 is the source screen case. Costed at Harvey’s own conventional space standard because the broker describes the provider building to the occupier’s specification; whether the rate was quoted on that area is Need to confirm (at serviced density this route would be the cheapest). Named historic transaction values are excluded. |
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| routes.bespoke.term | 3 years | Reported Unattributed broker market input | Reported minimum enterprise term; early breaks and amortization unknown. |
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| routes.bespoke.lead | [4,10] months | Reported Unattributed broker market input | Search/legals and provider-delivered fit-out. |
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| routes.bespoke.capital | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Tenant extras beyond provider-funded delivery, fees and move. |
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| routes.bespoke.exit | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Break rights, unamortized fit-out repayment and end obligations. |
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| routes.bespoke.serviceGap | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Enterprise service scope and overages. |
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| routes.fitted.rate | [100,125,150] GBP rent / sq ft / year | Derived Unattributed broker market input | Reported landlord-fitted endpoints, with arithmetic midpoint. Sublease opportunities may differ; the low-priced single-property example is excluded. |
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| routes.fitted.term | 5 years | Assumption Resource scenario method | Five-year comparison term, no exercised break. Actual sublease term may be shorter. |
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| routes.fitted.lead | [5,7] months | Reported Unattributed broker market input | Search/legals plus limited alterations. |
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| routes.fitted.works | 1 months | Reported Unattributed broker market input | Approximately 1 month of alterations if required; the lease is taken to start then. |
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| routes.fitted.incentive | [1.5,1.25,1] rent-free months / year certain | Reported Unattributed broker market input | Applied to first term only; fractional months prorated. No post-break incentive assumed. |
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| routes.fitted.capital | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Reuse, alterations, furniture, AV/IT and other opening costs; not zero. |
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| routes.fitted.exit | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Source says minimal but another source row uses 25/sf; no silent selection. |
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| routes.fitted.serviceGap | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Utilities, cleaning, FM, IT/security, move, professional fees, SDLT and overlap. |
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| routes.direct.rate | [90,110,140] GBP rent / sq ft / year | Reported Unattributed broker market input | CAT A rent-only guide; 110 is the source screen case. |
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| routes.direct.term | 10 years | Reported (verbal) Broker review call, 30 September 2026 (Resource and the London broker) | Ten-year term with no break: the realistic minimum for a new or Grade A building in King’s Cross today, per the broker on 30 September. A year-five break is only likely in an older building, and the fit-out needs the full ten years to amortize. This is not a five-year break case. |
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| routes.direct.lead | [10,15] months | Derived Unattributed broker market input | D&B 10–12; search/legals 4–6 plus traditional works 9 gives 13–15. Actual sequence unconfirmed. |
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| routes.direct.works | 6 months | Reported Unattributed broker market input | D&B works period used to stage capital, not a confirmed project schedule. |
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| routes.direct.incentive | [2.4,2.2,2] rent-free months / year certain | Reported Unattributed broker market input | Ten-year firm term. No conditional year-five break incentive is accelerated. |
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| routes.direct.capital | [110,150,170] GBP / sq ft | Reported Unattributed broker market input | Broker Bronze / Silver / Gold fit-out plus furniture and AV: 80+30, ~110+40, 120+50. Excludes IT, fees, move and contingency. Superseded the C&W published table on 2026-09-27; see superseded. |
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| routes.direct.exit | 25 GBP / sq ft | Reported Unattributed broker market input | Reinstatement at term expiry (ten years from lease start), not at the five-year comparison cutoff. |
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| routes.direct.serviceGap | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Project scope gap, utilities, cleaning, FM, specialist IT/security, move, fees, SDLT, overlap and financing. |
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| leaseOpex.rates | 40 GBP / sq ft / year | Reported Unattributed broker market input | Separate non-rent cost; not assumed VAT-taxable. |
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| leaseOpex.service | 17.5 GBP / sq ft / year | Reported Unattributed broker market input | Service charge only; not a complete FM/utility budget. |
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| leaseOpex.estate | 2 GBP / sq ft / year | Reported Unattributed broker market input | Directional estate charge. |
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| leaseOpex.insurance | 1.25 GBP / sq ft / year | Reported Unattributed broker market input | Directional insurance / other cost. |
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| continuation | true scenario switch | Assumption Resource scenario method | To fill a 5/10-year occupancy window, shorter terms continue on the same modeled rent basis without new incentives. This is a forecast assumption, not a renewal right. Rent resets, renewal capital and exit costs stay unknown. |
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| interimCost | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Current managed cost and any pre-handover extension, swing space or double rent. |
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| fullyLoadedTco | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Every route has unresolved required costs. Never describe the modeled subset as full TCO. |
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| payback | Need to confirm | Need to confirm Private / property-specific inputs not supplied | Payback requires Harvey’s actual managed baseline and a complete incremental budget. |
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