banking client Pretoria

January 21, 2021
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banking client Pretoria office consolidation

Challenge: Upcoming lease expiry on high cost, unsuitable property in Pretoria CBD

01 APPROACH

  • Analysis of demand type & demographics
  • Investigate alternatives to current building
  • Engineer a new approach to strategy
  • Speed a key issue given imminent lease expiry

02  SOLUTION

  • Identified industrial building to convert to call-centre type use
  • Purchase structured with Client as confidential buyer
  • Purchase of freehold at industrial value rather than office value

03  RESULTS

  • Fit for purpose facility in suitable low cost location with good public transport links
  • Achieved 60% reduction in space from 96,000m² to 38,000m²
  • Created savings of over R900m ($66.7m) over a 15 year period
  • ~2,100 FTEs relocated with increased productivity, more efficient operations, increased reported business profitability

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