World's Leading Hardware and Software Vendor Lease Renewal - Morocco, Casablanca - Source8
World’s Leading Hardware and Software Vendor Lease Renewal – Morocco, Casablanca
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World’s Leading Hardware and Software Vendor Lease Renewal – Morocco, Casablanca

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

Size: 630 sqm

Brief

  • Our client needed to renew their current lease in Morocco whist giving themselves the utmost flexibility in the coming years as their growth plans indicated more space would be needed possibly as early as in 12 months
  • The lease contract also provisioned for a substantial rental increase to be applied at the end of the current three year term

Challenge

  • Our client had spent significant capital renovating the space two years prior to Source8’s instruction meaning that the realistic ability to move was low
  • The institutional landlord was fairly rigid in its mind-set, using the shareholders as a shield to hide behind during negotiations

Solution

  • Source8 was able to identify viable alternatives on the market which needed little capital investment to use as leverage with the landlord
  • Soruce8 was able to secure a three year renewal with breaks at the end of each year whilst mitigating the amount of the contractual rental increase

Value added

  • Negotiation leverage was applied at the right level to enable reactivity from the landlord and the signature of a flexible lease term
  • Timing in the negotiation was managed enabling the agreement in principle to be secured before lease end date whilst managing the lease signature process which took place after the new lease start date

Locations

Contact Source8

info@source8.com

+44 (0) 20 7752 0700

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