Globaleye, a multi-national organisation that provides financial solutions to both corporate and private clients, had an upcoming lease expiry in Singapore.
The company was weighing up the costs and benefits of renegotiating their existing lease versus relocating to a new, fully-fitted office space. To support in the analysis phase, Globaleye appointed Tenant CS to investigate any cost saving opportunities or market alternatives that might justify a move.
Tenant CS renegotiated the rental rate in Globaleye’s current building from $10 down to $9 per sq. ft./month (total savings of $50,000 over one year) and reduced the security deposit from six months to three months. As a result, Globaleye decided that staying in their current premises was the most cost effective solution and renewed their lease for another year.