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
FEATURED SERVICES
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.
Compulsory Purchase
With extensive experience in the niche field of Compulsory Purchase, Cushman and Wakefield offers both landowners and government agencies a range of expert CPO advisory services.
Sustainability
Project Management
Cushman & Wakefield’s Project Management team comprise a group of dedicated and experienced project management professionals delivering high quality schemes across a selection of Client sectors throughout the UK.
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Perhaps you have a good understanding of your real estate requirements and want the certainty of a fixed price with an expert partner?
Cost Consultancy
We offer a comprehensive range of cost consultancy services to meet your needs throughout the building and project lifecycles.
Building Engineering Services
Our Building Engineering Services team can provide all design and management services relating to the mechanical, electrical and public health elements within all building types, across all sectors during initial construction, fit-out and occupancy stages.
Retail & Leisure Occupier Representation
From small market towns to the largest regional shopping destinations, retail is at the heart of what we do.
Offices Occupier Representation
Our Occupier Representation team will support you through the entire process of your search for an office space, from the beginning all the way to signing the lease and fitting out your new premises.
INSIGHTS
Insights • Investment / Capital Markets
30/03/2020
