The law firm, Hunt & Hunt, occupied three levels of office space in a premium building within Sydney’s CBD. Due to some internal reorganisation, Hunt & Hunt had a lot of unutilised space for their total headcount. The excess space represented a significant cost to the business.
Locked into a long-term lease, Hunt & Hunt was seeking assistance to relinquish one of their floors. Tenant CS was appointed to help them sublease this extra space to a suitable company after a landlord’s agent was unable to do so after almost a year of trying.
Tenant CS recommended that Hunt & Hunt subdivide the space to accommodate two separate companies that were actively looking for space.
The identified subtenants complemented Hunt & Hunt’s business and had the financial grounds to sublease their unused space (930sqm) until lease expiry. This generated significant savings for Hunt & Hunt over the remaining four years of their lease term.