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Turn Key: advantages of this type of hiring for occupants

Raquel Miralles • 5/12/2023

Thinking about offering more and more practicality and attractiveness, owners of corporate slabs have incorporated the Turn Key model into their commercial agreements. In this format, the office is delivered ready to operate, contemplating the design and execution of the work.

Corporate slab
Before talking about Turn Key, it is necessary to understand the concept of corporate slab. Unlike a commercial office building, a corporate building is generally slabs larger than 500m² with different technical specifications and containing few occupants per floor. Some technical specifications such as ceiling height, plaster ceiling, central air conditioning, generator in common areas, raised floor and sustainability certifications can raise the classification of the slab to A or A+.

When renting a corporate slab, the occupant is responsible for the design and execution of the work he wants to implement, be it an office, health unit, teaching unit, among others. That's where the Turn Key solution comes in.

Turn key
In the case of an office, for example, when closing a commercial agreement involving the Turn Key, the occupant will receive the finished space, ready to install his operation, according to the project defined by him and executed by the owner's suppliers.

The Turn Key concept is precisely to centralize services in a single supplier. In this case, when opting for this type of contract, the lessee does not need to get involved with a series of issues regarding the execution of the work.

Despite being a customizable solution, which meets the specificities of each business, the common objective of the contracts that include Turn Key is to simplify the life of the property occupant.

Some advantages of this type of solution are:

• Centralized communication
• Time saving
• Single budget

Advantages for the occupant
Today, a trend that has gained space in the residential real estate segment has also been extended to the corporate sector, which are the facilities offered by the owner to differentiate himself in the market.

For Raquel Miralles, Director of Transactions at Cushman & Wakefield, the biggest advantage of the commercial agreements that involve Turn Key for the occupants is the fact that the tenant does not need to spend time and energy to deal with the execution of the project and the work: ''Often the occupant leases the corporate slab and enters a second stage, hiring suppliers to start the project and carry out the work. Imagine leasing the space and the property owner handing you everything ready to operate, according to your needs? It is the ideal setting for any relocation plan’’ reflects Raquel.

Some buildings offer a Turn Key solution with a project and work in about 60 days, as is the case of Berrini 500, in São Paulo, owned by Barzel.

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