Location: North Sydney
Service: Tenant Representation
Our client Milliman, an international consulting firm, had an upcoming lease expiry, and required additional space for company growth.
Establish the most cost-effective option – stay in the existing premises and reconfigure the fit-out or relocate to a new office.
We tested the market, by obtaining information on current suitable leasing opportunities, and obtaining an offer to renew from the current landlord.
Following this, we developed a cashflow analysis, that identified it was cheaper to stay in the existing premises and reconfigure their fit-out, than relocate.
This research was used as leverage when we negotiated a $500,000 incentive, which is almost double market rates and something the client did not think was possible.