Leading Software Vendor Lease Renewal - Algeria - Source8
Leading Software Vendor Lease Renewal – Algeria
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Leading Software Vendor Lease Renewal – Algeria

Client: One of The World's Leading Hardware and Software Vendors

Size: 570 sqm

Brief

  • Our client needed to gain time to assess their strategy for Algeria yet they had a lease end in 6 weeks which did not give them enough time to define their needs
  • Source8 was asked to firstly undertake a short-term renewal for 6 months and then assist with the long-term renewal or relocation depending on the defined strategy determined

Challenge

  • The time left to negotiate the short-term extension was very tight meaning that negotiating strength was greatly reduced
  • The needs of the short-term had to be balanced against the risk for the landlord that our client could move out in 6 months, and for our client that the landlord could start to market the space if they where not convinced of our client signing a longer-term option

Solution

  • Source8 was able to leverage past experience with the landlord to secure a short-term 6 months lease extension whilst maintaining the rent at the same levels
  • Source8 was then able to undertake a market search and apply gentle leverage on the landlord for the longer term solution meaning that stable rental levels as well as landlords commitments to building upgrades where secured

Value added

  • Measured and varying negotiation tactics were applied for the short- and long-terms lease renewals enabling the best outcome to be secured against the leverage that our client had at the time
  • Both short-term then longer-term lease‚Äôs successfully negotiated

Locations

Contact Source8

info@source8.com

+44 (0) 20 7752 0700

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