Philips

Philips

Project: Transaction Management – Relocation and Subsequent Lease Renewal

Client: Philips

Location: 4 M. Hrynchenko Str., Horizon Office Park, Kyiv, Ukraine

Leasable area: 944 sq. m

Date: 2006, 2017

 

The Challenge

In 2006 Philip` s office space in Ukraine ceased to meet the company’ s corporate standards and Philips established a requirement to move to a modern multi-tenant business center providing for single floor occupation within a professionally managed business center with a reputable landlord. Cushman & Wakefield was instructed by Philips to find alternative space and secure a lease enabling occupation by a fixed target date. Cushman and Wakefield identified a suitable option and secured Philips operation in Horizon Office Park on optimal terms and within the required timeframe. After 10 years of being a tenant of Horizon Office Park, Philips wished to remain in occupation of their space and in 2016 appointed Cushman & Wakefield to negotiate terms on their behalf for in relation to lease renewal.

 

The Solution

Сushman & Wakefield proposed a negotiation strategy which covered all critical areas of the existing Philips lease and delivered a phased-solution to secure introduction of the new agreed terms several months before expiry of the current lease.  

 

The Result

Cushman & Wakefield secured a new lease on the best market terms and reduced occupational costs in line with Philips mid-term business plan.