Cookie Use Notification

This site uses cookies to provide you with a more responsive and personalised service.

By using this site you agree to our use of cookies as set out in our cookie notice. Please read our cookie notice for more information on the cookies we use and how to delete or block the use of cookies.

Sanofi-Aventis – Sydney Headquarters – Tenant Representation

Click to Enlarge

The Challenge

Sanofi-Aventis Australia headquarters lease was expiring in 18 months. Alternative premises were to be reviewed with a preference to stay put and reduce total space by approximately 10%. Shorter term lease (5 years) to be negotiated.

The Solution

Small market and no “real” alternatives meant discretion was paramount. Discretely entered the market, reviewed potential options and inspected many premises to maximise leverage. Knowing alternatives did not exist, fundamental commercial terms agreed promptly.

The Results

Achieved 25% incentive compared to some other major tenants achieving only 20% at that time. Reduced space by close to 10%. Were able to bring forward rent reduction rather than waiting for new lease commencement date. Able to complete negotiations in a expeditious manner – derisk the process and provide certainty.