Ultimo NSW

Commercial Office Space Ultimo 2
Commercial Office Space Ultimo 1


Our client was a large national company with its Head Office located in Ultimo. They had a lease expiring in 6 months time and were happy to investigate alternative premises. In the absence of a better alternative, they were happy to renew their lease and remain at the building. Before our engagement, the landlord had already tabled a lease proposal offering a five year lease term (no option) based on an increased rental plus a 19% incentive.

  • Engagement with landlord to negotiate renewal.
  • In parallel, explore and identify credible alternative premises.
  • Assistance to client with cash flowing of the Stay vs. Go option.
  • Investigate additional parking within the building.
  • Confirmation from client that existing premises is the preferred option, engagement with landlord and finalise negotiation.
  • Instruction from client was that they didn’t want to go to Valuer determination at the expiry of the lease.

Key Points

  • New 5 year lease + with 5 year option agreed.
  • Increase of incentive to 25%, additional 4 car spaces, landlord improvements to client offices and flooring. Improvement in other terms (e.g. rent review structures).

Related posts

Sydney NSW
June 27, 2023

Sydney NSW

Our global clients Head Office is located in Sydney CBD . They had a lease expiring in 6 months and requested us to undertake a stay vs go analysis. The office market had shifted dramatically...
Read more
St George NSW
October 30, 2022

St George NSW

Our brief was simple; investigate possible improvement options for the property. With our experience, we could identify unrealised potential. We advised our client to consider engaging additional key people to investigate further.
Read more
Sydney CBD NSW
October 13, 2022

Sydney CBD NSW

Our client engaged our services to deal with the building owners during Covid-19. Our client, like many, had a substantial downturn in their business revenue. They had engaged in initial discussions with managing agents regarding...
Read more

Leave a reply