Pernod Ricard

  • 500 sqm
  • Brisbane, Australia
  • Wine & Spirits

The Brief

Pernod Ricard, a French-owned company that has built a unique portfolio of premium wines and spirits, was looking to downsize their South Brisbane office. The excess space was a significant cost to the business.

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

The Solution

  • 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

The Results

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

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