Multinational sports apparel brand

January 21, 2021
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Multinational sports apparel brand.

Challenge: To secure new premises for the Client with unusually difficult requirements

01 APPROACH

  • Growing brand of increasing popularity in SA to expand footprint into the lower to middle income groups.
  • To secure space for the tenant at competitive rentals with unusually flexible lease terms. These included break clauses, fit out allowances, low rental or no rental and percentage of turnover only.
  • To source prime retail locations in a short space of time. Stand alone buildings in highest footfall areas in selected CBD focusing on the target market.

02  SOLUTION

  • Space was secured in prime retail location meeting the Client’s brief of either stand alone or prominent high footfall locations.
  • Rental was reduced substantially from first offer and a flexible lease term with negotiated break options.

03  RESULTS

  • Calculated lease sanction saving for the client substantially lower than Global approved budget.
  • Security of tenure for a 5 year period with flexibility for our client at no premium in terms of rental.

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