Pernod Ricard

Locked into a long-term lease, Pernod Richard engaged Tenant CS to help relocate their operations quickly.

Client Overview

No. of projects:
Multiple Projects
Single Project
Size:
500 sqm
Locations:
Brisbane
Location:
Brisbane
Industry:
Wine & Spirits
Project Type:
Lease Exit, Lease Negotiation, Office Relocation
Project Types:
Lease Exit, Lease Negotiation, Office Relocation
About the company
Pernod Ricard is a french-owned company that is classed world no. 2 in the wines and spirits industry, proudly managing a prestigious portfolio of internationally recognised brands, including G.H. Mumm, Jameson, Chivas Regal, ABSOLUT, Havana Club, Malibu, Jacob's Creek and more.

Featured Project

At a glance

The Brief

Pernod Ricard was looking to downsize their South Brisbane office. The excess space was a significant cost to the business.

Locked into a long-term lease, the company assigned Tenant CS to negotiate a lease exit so that they could relocate their operations quickly and with minimal hassle.

The Results

Tenant CS undertook the following:

  • Audit of the existing premises (including lease review, site inspection and market analysis)
  • Contacted local companies to identify suitable candidates for sublease or third-party assignment
  • Market analysis and benchmark with similar premises to recommend a target rent for potential sublessees
  • Entered negotiations with the landlord to surrender lease
  • Make good assistance

After identifying a lease surrender as the most cost-effective option, Tenant CS negotiated a cash settlement with the landlord, which included make good costs. This settlement equated to a 52% saving over the remaining lease term – a result that Pernod Ricard would not have been able to achieve without the right representation and advice.

Tenant CS also handled bothersome administrative tasks in conjunction with the appointed legal counsel, leaving Pernod Ricard with more time to focus on their core business

'Substantial savings'

Tenant CS generated some substantial savings for our business. They communicated regularly with us, were very accommodating to our needs and were highly professional in their approach.
Rachael Lamont
Facilities Manager, Pernod Richard

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