01 The Challenge
Relocation from 10 properties into a new 350,000sqft HQ.
Major dilapidations and lease disposal strategy.
Omnicom Europe Limited had to relocate from over ten properties into one over 4 years. Each lease had different termination dates. Some with break clauses and onerous obligations and others extending beyond the relocation date. The client assigned Cushman & Wakefield Building Consultancy team to de-risk onerous dilapidations. The team was tasked to settle larger claims as quickly as possible, leaving residual claims for a longer term approach.
02 The Solution
03 The Result
- Short term de-risking of the dilapidations financial exposure and lease liability, by focusing on easier wins.
- Long term strategy for the remaining more complex dilapidations settlements.
- Ultimately significantly reducing the overall dilapidations financial settlement for Omnicom.
Savings achieved on claims often in excess of 50%
Testimonial
"We successfully partnered with Cushman & Wakefield to navigate us through 10 complex and large scale exit obligations on our recent London consolidation. The Cushman & Wakefield team skillfully managed and guided us through the dilapidations process, meeting and often exceeding the objectives set and ultimately achieving a very positive financial outcome"
Stuart Young
Executive Vice President – Real Estate, Omnicom Europe Limited
Meet the Team
FEATURED SERVICES
Rethinking Properties
Total Workplace
Total Workplace brings industry leading thought leadership, strategy and guidance to help clients implement innovative and consistent solutions through the use of tools, technologies and best practices.
Global Occupier Services
EMEA Structured Finance
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The environment for recovery services is constantly evolving. Our Receivership & Recovery Solutions team brings more than 20 years’ experience in providing strategic advice to lending institutions, insolvency practitioners, corporate and equity fund clients, for distressed property assets and challenged lending situations.
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With extensive commercial expertise and a deep understanding of the property life-cycle requirements of investors, occupiers, lenders and developers, our building consultancy team provides specialist advice across the full spectrum of building surveying services.
Development
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Whether you are looking to buy, sell or develop industrial property, our Logistics & Industrial Capital Markets team provides expertise and insight that will help maximise the value of your portfolio or individual assets.
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Aligning your business and real estate to deliver future proof occupation strategies.
Sustainability
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INSIGHTS
