BAKER MCKENZIE
SIZE
3 079 m2
DESCRIPTION
Stay vs Go Analysis
DEAL TYPE
New Lease Acquisition / New Office Development
LOCATION
Rosebank, Gauteng
PROJECT SCOPE
Baker McKenzie needed to optimize their space and move to a more modern building; or renegotiate to improved terms. Megatrend engaged to conduct a Stay vs Go Analysis and assist with a potential relocation.
SOLUTION
The existing landlord tabled a competitive renewal proposal, however due to the nature of the building, it was deemed difficult to reduce the footprint. It was therefore decided a fit for purpose solution was the more viable option. The decision was taken by the Baker McKenzie board in consultation with Megatrend to relocate to a new development in the Oxford Parks Precinct, as a bespoke new development added additional cost benefits with modern efficient technology.
RESULTS
By taking advantage of the new Oxford Parks development, Megatrend were able to reduce Baker McKenzie's cost of occupation significantly. This was achieved by rightsizing their office space and thereby reducing their rental and operating costs.