Problem - VMWare Fusion (Pro) DHCP is a mess and almost impossible to configure, lets just do without it altogether.
Disable DHCP on vmnet1 (the VMWare private network).
sudo sed -i '' -e 's/answer VNET_1_DHCP yes/answer VNET_1_DHCP no/' \
/Library/Preferences/VMware\ Fusion/networking
Restart all the VMWare services
sudo /Applications/VMware\ Fusion.app/Contents/Library/vmnet-cli --stop
sudo /Applications/VMware\ Fusion.app/Contents/Library/vmnet-cli --configure
sudo /Applications/VMware\ Fusion.app/Contents/Library/vmnet-cli --start
sudo /Applications/VMware\ Fusion.app/Contents/Library/vmnet-cli --status
may also need to mess with 'answer VNET_1_VIRTUAL_ADAPTER no' - prevent ip addresses leaking back and forth.