Grosvenor partners with Insurami to offer tenants deposit-free leasing
14 December 2021
Grosvenor Britain & Ireland 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 Britain & Ireland 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.
Insurami is commercial real estate’s deposit guarantee platform - setting a new market standard by enabling deposit-free commercial leasing, helping the market to close more deals faster. Insurami’s Deposit Guarantees provide a better way to manage risk versus holding a traditional cash deposit giving landlords the financial security they need.
At the intersection of proptech and fintech, Insurami provides landlords with the same protection as the traditional cash deposit, whilst saving tenants over 95% of their upfront deposit costs. Tenants pay a small monthly fee instead of locking up cash, and landlords get paid out if the tenant defaults.
Grosvenor Britain & Ireland creates and manages great places where communities, business and nature thrive.
We are part of a global property business that has been developing and managing land and property for over 340 years.
Our heartland is in London’s West End, where we support c11,000 residents, c1,000 businesses and c60,000 workers every day. We also create and manage sustainable new neighbourhoods in London and across the South of England. We think long-term and give equal weight to the social and commercial impact of everything that we do.