World's Leading Tech Company Lease Renewal - Egypt, Cairo - Source8
World’s Leading Tech Company Lease Renewal – Egypt, Cairo
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World’s Leading Tech Company Lease Renewal – Egypt, Cairo

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

Size: 1,650 sqm

Brief

  • Our client needed to renew their lease in central Cairo whilst securing options to potentially expand in the existing site through swapping their occupation from one floor to another
  • Cost was a fundamental concern especially against the level of service charges being passed on to our client by the landlord without any justifying invoices

Challenge

  • The building is one of the best in the market with a non-institutional landlord
  • Landlord held a strong position on the service charge levels and ability to view invoices which they considered confidential and proprietary
  • Other tenants in the building needed to vacate the space before expansion options could be discussed or secured

Solution

  • Source8 undertook a full in-depth market analysis to assess alternative options
  • Souce8 secured agreement on terms against the preferred alternative to enable a credible threat of relocation from the existing building
  • Source8 negotiated a compromise solution on the service charges separating the management personnel costs from the running costs, fixing the former, and gaining access to utility invoices for the latter
  • Management of movements in the building allowed Source8 and the landlord to work together to propose expansion options for our client

Value added

  • Strong negotiation tactics and process allowed for a favourable deal to be secured resulting in savings for our client against the landlord’s first offer
  • Pressure applied to the landlord through existing contacts at an international level to secure more favourable service charge clauses

Locations

Contact Source8

info@source8.com

+44 (0) 20 7752 0700

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