Dilapidations – Lease Disposal & Strategy for Omnicom
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
Kiran Patel
Associate, Head of Regional Offices and Head of Life Sciences Research
London, United Kingdom
FEATURED STORIES
Torre Llacuna • Real Estate
Learn More
Cushman & Wakefield • Office & Workplace
Learn More
Cushman & Wakefield • Office & Workplace
Learn More
The Municipality of Leiden
Learn More
FEATURED SERVICES
Capital Markets
We provide expert guidance and solutions for navigating capital markets to help businesses achieve their financial objectives.
Tenant Representation
Global Occupier Services
Design and Build Services
Total Workplace
Aligning your business and real estate to deliver future proof occupation strategies.
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.
Rethinking Properties
Valuation for Tax
Disposing of property can give rise to a tax liability in certain circumstances.
Landowners With Land being Acquired
Compulsory Purchase Orders can be a taxing experience for landowners, who may only receive notice of an acquiring authorities’ intention once the decision has been made.
Land Assembly Services
Regeneration projects often involve the challenging task of assembling sites from smaller parcels of land.
