Fortune 50 Tech Lease Acquisition - Burkina Faso - Source8
Fortune 50 Tech Lease Acquisition – Burkina Faso
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Fortune 50 Tech Lease Acquisition – Burkina Faso

Client: A Fortune 50 Technology Company

Size: 80 sqm

Brief

  • Our client needed a 3 desk office for new market entry
  • A safe and secure location was key – preferably in the CBD. Fire safety and safe access was also required
  • Long payment lead times meant flexibility was required throughout the process

Challenge

  • Availability of market options able to meet  the client needs was very limited
  • Lack of communication between the landlord and his agent meant that one properties was lost, after lease signature by our client, as the landlord’s agent did not have the correct approval from the landlord to sign
  • Our client’s approval processes and payment times lead to a lengthy process
  • OHADA law needed to be respected to ensure correct tenant rights

Solution

  • All the building documents and draft leases for the short-listed options requested  before approval phase to ensure no delays on the overall process
  • Again for speed, financial analysis on selected options undertaken on desk top basis for initial approval and then reconfirmed
  • Management of lease process for the selected option started as soon as the security checks were done and budget approved
  • Lease terms negotiated to be favourable for tenant renewal rights

Value added

  • Suitable options were identified despite the immaturity of the markets
  • Deal held together over many months ensuring agent and landlord were managed during long payment processes
  • Lease dates and signature negotiated to assist with long payment lead times
  • Due diligence on both notary and landlord undertaken for our client.

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