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Citroën Citroën

Citroen

Anoop Vasudeo • 16/06/2021

Client

Citroën

Location

Elements, Worli, Mumbai

Client Type

Automobile

Area Transacted

13,000 SF

Broker name

Anoop Vasudeo

Designation

Senior Associate Director

Location

Mumbai

Existing Relationship

No, first transaction

 

About the client

Citroën is a French automobile manufacturer. It was founded in 1919 by industrialist André Citroën and has been part of Stellantis since 2021. Stellantis N.V. is a Dutch-domiciled multinational automotive manufacturer, formed in 2021 based on a 50-50 cross-border merger between the Italian Fiat Chrysler Automobiles and the French PSA Group, and headquartered in Amsterdam, Netherlands.

Transaction Details

Cushman & Wakefield retail team successfully transacted 13,000 SF flagship store for Citroen. In addition to be their first showroom in Mumbai, it also is their largest in India. 

Citroën wanted to open their store in Mumbai. The client had already signed a property in South Mumbai through a leading IPC and was discussing the closure of L&L agreement for the same which was causing a delay.

Identifying this as an opportunity and understanding the urgency on the part of the client to open at the earliest, the Cushman & Wakefield retail team approached the client without any ado. The team swiftly helped the client look at new properties that suited their requirement. and they were open to look at new properties that matched their requirements.

The team after their due diligence proposed several, better options and conducted site visits on priority. The team not only managed the pressure from the Licensor but also helped negotiate excellent rates for closure and successfully signed the LOI & the agreement.