Selection and rental negotiation for BAE Systems
BAE Systems, a British multi-national working in the defence/security/aerospace sector with their HQ based in London, also has a branch in Belgium (Heverlee). Their lease contract ended automatically after 9 years, so some action needed to be taken.
Freestone's approach
- determining the future requirements program
- market analysis to scan alternative buildings meeting future needs
- discussing possibilities of the current building with the owner
- working out a stay-or-leave business case and comparing the various scenarios
- giving advice as to the best option meeting the business needs
- rental negotiation and improving rental conditions in every aspect
- preparing new rental agreement
Result
Over the years, the business needs of BAE Systems changed and, consequently, they needed to reduce their rented surface. Depending on the spatial and technical possibilities of the existing building and the willingness of the owner to make an effort, BAE Systems could possibly stay in the building or they had to look for an alternative. Finally, an agreement was concluded with the current owner for a new rental period with greatly improved rental conditions.
PROJECTFICHE
- Customer: BAE Systems
- Project: Stay-or-leave, site selection and rental negotiation
- Timing: 2015
- Location: Heverlee
- Scope: 647m²
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