Stories
OMD Philippines: Keeping Its Office Space Closer To HQ
01 THE CHALLENGE
OMD Philippines’ lease contract with Regus was about to expire on December 30, 2018.
For the next steps, the company had these options and conditions in mind:
- If it would relocate, it should get the same rate as its current contract
- If it would keep its office in Regus, it should not pay any price increase and renewal fees
However, Regus' landlord was keen to revert the rates to market standard with a 3% increase — a total of 17% increase from OMD's current rent.
To help it decide whether to renew or move, OMD engaged Cushman & Wakefield to:
- Find available spaces where it can relocate
- Check ongoing rates for a similar setup with its current office
- Negotiate with landlords
02 THE SOLUTION
OMD then decided to keep the current office since its size was bigger than the other options, and it's closer to the main office. For this, Cushman & Wakefield proposed renewal strategies, including cutting the current contract and acquiring a new lease to get better results.
03 THE RESULT
Meet the Team
WE’RE ON HAND TO HELP
Related Stories
Related Services
Project & Development Services
Global Portfolio Administration
Our experts collect, analyse, and transform data into actionable information such as occupancy costs, key lease dates, and inventories by asset type, location, size and, other factors.
Integrated Portfolio Management
To help our clients achieve their main business objectives we bring together Transaction Management, Lease Administration and Portfolio Strategy to leverage data, streamline processes, and deliver superior insights.