Talisman Energy: Relocating To A New Office
01 The Challenge
Global upstream oil and gas company Talisman Energy was one of the anchor tenants at Saigon Tower. They occupied more than 3,000 square metres with an additional 2,000 square metres being secured for consolidation with their joint operating company, Thang Long.
Talisman appointed Cushman & Wakefield as their Tenant Representative in 2014. We were tasked to devise a strategy for the relocation and consolidation of their multiple offices.
Talisman required additional space for their growing workforce as well as upgraded facilities to promote comfort and boost motivation within the workspace. Thus, in devising the strategy, we considered Talisman’s long-term growth in the most cost-efficient manner.
02 The Solution
Cushman & Wakefield shortlisted several options that allowed for a consolidation of multiple locations and leases. We further narrowed the shortlist after evaluating the merits of the potential buildings.
After extensive analysis and early negotiations, Le Meridien emerged as a viable option. Cushman & Wakefield then secured market-beating lease terms for Talisman after detailed and lengthy negotiations.
We also guided Talisman through a difficult pre-leasing period when many legal and licensing issues had to be resolved.
03 The Result
After nearly six months of negotiations with landlords, Cushman & Wakefield successfully arranged Talisman’s relocation to Le Meridien, where they are now a key anchor tenant. The rental rate and terms both exceeded Talisman’s expectations.
The deal was the largest pre-lease arranged in Ho Chi Minh City’s CBD.
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