Azure Group, a team of industry-leading accountants, tax and business advisory professionals, was faced with an upcoming lease expiry and partnered with Tenant CS to engage in a stay vs. go analysis.
The brief to market was centred around an existing fit-out catering to 50 desks and inclusive of collaboration areas (circa 600 sqm). In the event of relocation, the building grade was to be superior to their existing premises with a full market incentive to be applied as rental abatement.
After conducting a thorough market search and engaging in robust negotiations, Tenant CS determined that renewing the existing lease offered more compelling financial benefits compared to relocating.
Leveraging the relocation options found in the open market search, the team successfully secured a three-year lease renewal with tenant-centric renewal terms including an above-market incentive, and lessor works and contribution for cosmetic upgrades to the space.