World's Leading Hardware and Software Vendors- Lease Renewal – Ivory Coast, Abidjan - Source8
World’s Leading Hardware and Software Vendors- Lease Renewal – Ivory Coast, Abidjan
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World’s Leading Hardware and Software Vendors- Lease Renewal – Ivory Coast, Abidjan

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

Size: 500 sqm

Brief

  • Our client needed to renew their current lease in Abidjan to enable business activities to continue in country
  • The existing space was able to accommodate the expected headcount growth for the next 3 years
  • Mitigating any base rental uplift whilst ensuring the existing exclusions from the lease (parking, charges) remained as is was the focus of the transaction

Challenge

  • The option to relocate did not exist due to Capital Expenditure restrictions
  • The building is in a prime location with good tenant demand
  • Slowly rising rental growth prospects with fixed tri-annual rental increases the market expected norm, even if not documented in the lease as a fixed indexation provision

Solution

  • Source8 was able to undertake a market search and present options on the basis of a relocation creating credible threat to the landlord
  • Source8 was also able to mitigate the rent increase being asked for by the landlord

Value added

  • Source8’s knowledge of the market, robust negotiating tactics and proven delivery processes were used to put pressure on the landlord and drive savings against the risk of relocation.

Locations

Contact Source8

info@source8.com

+44 (0) 20 7752 0700

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