Software Company Lease Renewal - Saudi Arabia - Source8
Software Company Lease Renewal – Saudi Arabia
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Software Company Lease Renewal – Saudi Arabia

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

Size: 490 sqm

Brief

  • Our client needed to renew their current lease in Jeddah to ensure business continuity in the region
  • The existing space satisfied the projected headcount growth for the next 3 years
  • Mitigating any rental uplift and securing additional car parking within the complex was a priority

Challenge

  • The time left to negotiate the renewal was very tight meaning that negotiating strength was greatly reduced
  • The existing building was in a prime location with good tenant demand and healthy rental growth prospects

Solution

  • Source8 was able to agree to offer the landlord the prospect of a five year lease that incorporated a break option at the end o the third year
  • Source8 was also able to secure a rent reduction against the exiting terms and secure additional car parking at a significantly reduced rate

Value added

  • Source8’s knowledge of the market and robust negotiating tactics and process were used to gain significant saving even in a building that generates good tenant demand in prime location in Jeddah

Locations

Contact Source8

info@source8.com

+44 (0) 20 7752 0700

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