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Case Study

Client: Milliman

Scenario: Market Rent Negotiation

Location: North Sydney, NSW

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Situation

Our client Milliman, an international consulting firm, had an upcoming lease expiry, and required additional space for company growth.

Action

Endeavour Property Advisory assessed the cost-effectiveness of the below options:

  • stay in the existing premises and reconfigure the fit-out

  • relocate to a new office

We tested the market, by obtaining information on current suitable leasing opportunities, and obtaining an offer to renew from the current landlord.

Following this, we developed a cashflow analysis, that identified it was cheaper to stay in the existing premises and reconfigure their fit-out, than relocate.

Result

This research was used as leverage when we negotiated a $500,000 incentive, which is almost double market rates and something the client did not think was possible.