Stay-or-leave analysis and lease management for Terumo

Terumo BCT is the world leader in blood management with a Belgian base in Zaventem. Due to changed space requirements, the company was confronted with an acute lack of space. Freestone came up with a creative solution, with 35% less costs.

The current structure at Terumo BCT was no longer sufficient to optimally support the organization. Due to an approaching break option in the lease, the alternative of a relocation became clear. But was that the best solution?

PROJECT DATA SHEET

• Customer: Terumo
• Project: stay-or-leave analysis and lease management
• Timing: 2015 - 2016
• Size: 2,838 m²

Freestone first took a step back and questioned the initial problem of Terumo BCT. After all, a thorough analysis of the use of space in the existing building revealed an opportunity for redesign and more efficient use of space. This allowed a relocation to be avoided and a stay scenario became an option. To thoroughly compare all options, Freestone launched a market survey and all alternative offers were compared qualitatively and financially with the future housing needs of Terumo BCT. Our real estate experts clearly did more than just comparing rental prices. For example, spatial performance ratios such as "net/gross" and "1st daylight zone/total m²" were literally mapped and calculated. After all, in addition to the level of the lease it is equally important to thoroughly analyze the quality of the m² offered. Only in this way can the correct price/quality be assessed and compared. It is not uncommon for a slightly higher rent/m² to be cheaper overall when you have to rent less gross m² in that building in order to meet your space requirements.

In the end, the current building in the Ikaros Business Park in Zaventem turned out to be the best choice and the current contract was renegotiated, resulting in a 35% decrease in lease. Moreover, to the great satisfaction of all employees, a move was avoided, which always puts extra pressure on an organization.

Freestone's approach

• Preparation of a future spatial and technical needs program
• SWOT analysis of current offices and working environment
• Preparation of a stay-or-leave business case
• Review and evaluation of possible alternative offices
• Rental negotiation and drafting of new lease agreement