World's Leading Hardware and Software Vendor Lease Renewal - Egypt, New Cairo - Source8
World’s Leading Hardware and Software Vendor Lease Renewal – Egypt, New Cairo
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World’s Leading Hardware and Software Vendor Lease Renewal – Egypt, New Cairo

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

Size: 630 sqm

Brief

  • Our client had two leases in one property with different lease end dates differing by 14 months, yet with one expiring imminently
  • Our client needed time to assess their options in the market and extend the term of the first lease and also make it coterminous with the second lease

Challenge

  • The landlord was a partner of our client’s and knew that our client was unable to vacate the space due to budget constraints
  • The landlord wanted to secure our client on a long term lease, not only for an additional 14 months past the expiry
  • The landlord required payments in United States Dollars whereas our client wished to pay in Egyptian Pounds

Solution

  • Source8 was able to leverage the political situation in Egypt at the time of negotiation to secure a coterminous lease extension with the landlord whilst including options to renew for further period if our client required
  • Source8 was also able to mitigate a rental increase during the extension period
  • Payment options where secured in Egyptian Pound, yet due to its weakening value, these were at a premium rate which our client declined in favour of a payment in Untied States Dollars

Value added

  • Source8’s knowledge and experience of the situation and market meant that implementation of face-to-face negotiations were undertaken to attain maximum trust and strong relationship with the landlord

Locations

Contact Source8

info@source8.com

+44 (0) 20 7752 0700

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