Property Update February: Are Property Matters Disrupting Your Business?

Is dealing with property related matters a disruption to your business?

This is where Locate Negotiate can help.
Locate Negotiate are there to ensure that your focus remains on your business.

What services do Locate Negotiate undertake?

Negotiate Lease and Rent Reduction

National retailer: Bulky Goods Showroom

Southport QLD: Recently we were successful in negotiating a new lease agreement and substantial rent deduction over the term of the lease. In addition, We negotiated a 1.5% decrease in the annual rent increases and achieved a substantial contribution to the new fit-out of the showroom.

Outcome: The rent deduction alone amounted to circa $145,000 over the term of the lease.

Acquire Off-Market Property

National retailer: Bulky Goods Showroom

Ascot Vale VIC: In 2018 we successfully purchased an off-market property for our client for the purpose of opening a new showroom. We undertook all the necessary due-diligence and reporting to ensure our client was securing the property at a competitive price. In addition, we approached and received advice from industry professionals i.e. town-planners, architects, surveyors, building contractors, compliance certifiers prior to settlement.

With new government changes to zoning being introduced, there was going to be increased development potential (or FSR) for the property.

Outcome: The potential and worth of the property would increase substantially under these changes.

Secure CBD Office Space with 24% Incentives

Tier 2 National Accountancy Firm: Office space

Sydney CBD: We were successful in searching and securing 900 SQM of A-grade office premises in the CBD. Vacancy levels where tight and incentives on offer were averaging around 19%. The current tenant wanted out and was keen to surrender their lease. We worked closely with the current tenant and the landlord (established property group) and was able to work in with their time frames. We successfully negotiated a new lease term, secured an incentive of 24% of the term of the lease, contribution to a new office reception, meeting rooms and boardroom fit-out.

Outcome: The savings incurred was higher than our clients budgeted for and all was achieved within their desired time frames.