Reallocating surplus premises with optimum results

Client objectives:

  • Identify prospective parties to sublease / assign the surplus premises with a particular focus on serviced office and coworking operators
  • Secure an outcome as soon as possible to reduce costs
  • Preference was to assign or surrender the lease to the other party.

Results:

  • Strong interest received from multiple parties including the landlord who was keen to control the space
  • A coworking operator was identified to take over the obligations under the terms of the lease
  • Landlord was engaged in relation to surrendering the lease equal to the recovery rate of the proposed sub tenant
  • Terms were negotiated to surrender the lease at a very favourable recovery rate equal to the proposed sub tenant and any lease obligations from the surrender date were removed.

 

Let us help you.