AVON
SIZE
13 869 m2
DESCRIPTION
Stay vs Go Analysis
DEAL TYPE
Lease Renewal
LOCATION
Edenvale, Gauteng
PROJECT SCOPE
Megatrend was instructed to engage the market to assess a Stay vs Go Analysis, including both greenfield and brownfield options. Megatrend commissioned a development plan on behalf of Avon and thereafter ran a formal RFI process inviting pre-identified bidders to present solutions.
SOLUTION
Formal adjudication of bidder responses, including existing landlord renewal proposals, were comprehensively reviewed, and analysed over a period of 12 months whereafter the business instructed Megatrend to secure the lease extension.
RESULTS
Megatrend successfully negotiated a 5-year lease extension and secured a capital investment from the landlord; mitigated the reinstatement liability and secured below market rental terms. The resulting effect of these secured a R10 million savings vs the landlord's initial renewal proposal.