Savings Through Early Lease Termination
Client C* is a Global Fortune 500 company specializing in communications infrastructure. They decided to implement a hybrid work model and make their employees’ return to the office an enjoyable experience.
The challenge
The Client occupied ± 4,000 m² of office space in an existing lease.
They desired a refreshed workspace designed to capture staff attention and inspire the return to the office. The goal was to foster a workplace resembling a community, instilling a sense of belonging and promoting collaboration among staff.
The Client’s primary goal was to reduce overall Real Estate operational expenditure and promote unity across business lines and functions.
Addressing success
Noordman + Associates formulated a new Work Strategy and Methodology and initiated a Commercial Property Search. Through this process, we established a Building Rating and Benefit Analysis of the shortlisted properties which aligned with the Client needs.
We then generated an in-depth Financial Analysis to address the Client’s goal of reducing Operational Expenditure. This was followed by a Stay vs Go and Total Cost of Occupation Analysis to assess the viability of relocating to a new property.
Lastly, we created a Board Recommendation Pack to submit to our Clients Global Leadership.
The outcome
We successfully negotiated a lease renewal for the Client at market-related rentals and achieved a 25% reduction in rental exposure.
In collaboration with Design Partnership, we redesigned the space to cultivate a welcoming work environment for staff, facilitating a successful hybrid workspace for the tenant. The result was increased efficiency while reducing the ideal office footprint and maintaining the full staff headcount, including future expansion needs.
WIN #1
Successful negotiation created a 25% reduction in rental exposure.
Win #2
Implementation of a reduced office footprint while keeping work efficiencies through a hybrid work model
WIN #3
The redesigned office space revitalized employees' motivation to return to work
“A thoughtfully designed space can make the office feel like home.”
*Company/client name redacted for confidentiality.