Dilapidations – Lease Disposal & Strategy for Omnicom

Relocation from 10 properties into a new 350,000sqft HQ.

Major dilapidations and lease disposal strategy.

Omnicom Europe Limited had to relocate from over ten properties into one over 4 years. Each lease had different termination dates. Some with break clauses and onerous obligations and others extending beyond the relocation date. The client assigned Cushman & Wakefield Building Consultancy team to de-risk onerous dilapidations. The team was tasked to settle larger claims as quickly as possible, leaving residual claims for a longer term approach. 

• Short term de-risking of the dilapidations financial exposure and lease liability, by focusing on easier wins. 
• Long term strategy for the remaining more complex dilapidations settlements. 
• Ultimately significantly reducing the overall dilapidations financial settlement for Omnicom.

Savings achieved on claims often in excess of 50%