Stuart Alexander

Tenant CS was appointed to find a high-quality, creative, B-grade office space in Downtown CBD, Central, Haymarket, Ultimo or Pyrmont areas.

Client Overview

No. of projects:
Multiple Projects
Single Project
Size:
1,000-1,200 sqm
Locations:
Sydney
Location:
Sydney
Industry:
FMCG
Project Type:
Stay vs. Relocate, Lease Negotiation
Project Types:
Stay vs. Relocate, Lease Negotiation
About the company
Founded in 1884 and one of Australia's largest privately-owned companies, Stuart Alexander & Co. imports, markets and distributes premium global brands such as Chupa Chups, Fisherman’s Friends, Mentos, Tabasco, Monin and Duracell batteries throughout Australasia.

Featured Project

At a glance

The Brief

For this Stay vs. Move project, Tenant CS benchmarked the rent and searched for alternative options. Due to record low vacancy, there were no suitable alternatives. The best option was to extend the lease; however, the benchmark showed the rent was not in line with market-based on the building quality and the landlord intended to increase the rent.

The Results

Tenant CS and the landlord couldn’t come to an agreement on the Market Rent Review for a new option term and an independent valuer was appointed for a rental determination procedure. Based on market comparables, the valuer ruled that the rent should not increase, and the client was entitled to a market incentive to reflect an effective rent review.

As an added bonus Tenant CS  ensured that the “No Make Good” clause was carried over from the old lease.

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