Case Study

Client: Solastor

Scenario: Tenancy Search & Lease Negotiation

Location: Sydney CBD

Situation

Solastor, an energy technology start-up company were located in our building marked for redevelopment; and needed to relocate to a larger workspace.

Solastor engaged Endeavour Property Advisory to search for a new, cost effective workspace and negotiate lease terms. Due to budget restraints, Solastor had preference for fitted-out tenancies.

Action

Before our brief had been delivered to market, we were made aware of a fitted-out sub-lease opportunity (two years) with lease terms significantly under market.

We immediately made contact with the leasing agent to inspect the property that day. Following an additional inspection with Solastor, we had executed a lease proposal within three days.

Result

By identifying this opportunity, Solastor were provided a fitted-out workspace that met their growth requirements over the next 2 years, at lease terms significantly below market rates.

By comparing the secured lease terms to recent deals completed for comparable tenancies in the same building, it is estimated that a saving of $90,689 was provided to Solastor over two years. This is 27% of the estimated rent for the tenancy at market rates.