01 The Challenge
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.
02 The Solution
03 The Result
- 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%
"We successfully partnered with Cushman & Wakefield to navigate us through 10 complex and large scale exit obligations on our recent London consolidation. The Cushman & Wakefield team skillfully managed and guided us through the dilapidations process, meeting and often exceeding the objectives set and ultimately achieving a very positive financial outcome"
Executive Vice President – Real Estate, Omnicom Europe Limited
Meet the Team
Cushman & Wakefield provides a bespoke office leasing service to investor, developer and public sector clients across the UK & Ireland.
Urban places are the powerhouse of the UK economy, presenting both challenges and opportunities for those undertaking or planning property development and regeneration.
Land Assembly Services
Regeneration projects often involve the challenging task of assembling sites from smaller parcels of land.
With extensive commercial expertise and a deep understanding of the property life-cycle requirements of investors, occupiers, lenders and developers, our building consultancy team provides specialist advice across the full spectrum of building surveying services.
Cushman & Wakefield provides a bespoke leasing service to investor, developer and public sector clients across the UK & Ireland across retail, office and industrial sectors.
Offices and Industrial I Development
Our Offices and Industrial development team brings together Cushman & Wakefield's collective expertise to support developers, funders, landowners, investors and the public sector, in the sale, funding, repositioning and enhancement of industrial and office space.
Central London Offices - Capital Markets
Our Central London Capital Markets team provides a range of investment advisory services to an array of domestic and overseas clients engaged in buying, selling, investing in, financing, or building real estate in London.
Building Engineering Services
Our Building Engineering Services team can provide all design and management services relating to the mechanical, electrical and public health elements within all building types, across all sectors during initial construction, fit-out and occupancy stages.
We specialise in commercial interior design within the London market and across the whole of the UK, using our experience and expertise to help improve your business.
Office Lease Advisory
Our Lease Advisory team is an experienced, dynamic, innovative and proactive commercial team.
Vacating An Existing Property
Various measures exist that allow occupiers and landlords to minimise their business rates liability prior to a lease break or after a termination date.
Research • Avaliação
Nicholas Garnsey • 02/04/2019