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

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

Size: 3,200 sqm

Brief

  • Our client wished to renew, refurbish and expand in their Smart Village location in Egypt whilst taking advantage of tenant friendly market conditions, 24 months before lease expiry, to gain advantageous terms against a long term commitment
  • Source8 was instructed to undertake lease negotiations and project management of the refurbishment and fit out of the expansion space

Challenge

  • Our client wished to renew, refurbish and expand in their Smart Village location in Egypt whilst taking advantage of tenant friendly market conditions, 24 months before lease expiry, to gain advantageous terms against a long term commitment
  • Source8 was instructed to undertake lease negotiations and project management of the refurbishment and fit out of the expansion space

Solution

  • Source8 was able to secure very favourable renewal and expansion terms through leveraging the market conditions and alternatives available to the client
  • Source8 was able to negotiate improvements to the building to be undertaken by the landlord at his own cost but to the specifications of the client
  • Source8 was able to undertake Project Management pre work to ensure that the refurbishment of the space was ready to commence once the lease was signed

Value added

  • Source8 was able to carry the negotiations over 18 months, during which time the market started to improve, whilst holding the deal to the low market levels
  • Source8 was able to combine its transaction and project management services from beginning to the end of the project to ensure that the lease was correctly structured and fit-out suitably managed

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