With its lease nearing expiry, Tonic Media moved into a newly fitted CBD office on much stronger terms than first offered.
Sydney
Health & wellbeing media
Circa 300 sqm
Spec
Tonic Media Network is Australia’s largest health and wellbeing media network, delivering health messages in GP waiting rooms and pharmacies across urban, regional and remote communities.
With its Surry Hills lease nearing expiry, Tonic engaged Tenant CS to weigh staying against relocating and find suitable alternative space quickly. Tenant CS searched the Sydney CBD and Surry Hills, shortlisted three options, compared each landlord’s offer side by side and negotiated several rounds with the preferred landlord.
Tonic moved into a newly fitted and furnished space in the Sydney CBD, with a rental abatement on top of the fit-out.
Comparing three options gave Tonic real leverage, and several rounds of negotiation lifted the incentive well above the landlord’s opening position.
Annual rent reviews came in below the first proposal, and Tonic gained two months of rent-free early access before the lease began.
The landlord built a new private office and added AV to the meeting rooms, and paid the tenant representation fee separate to the incentive.
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