New Lease for Bank

Project Details

Client Represented: International Bank
Location: Bangkok, Thailand
Topline: Leased 14,200 sq.m. of office space

Challenge

The key features which were sought included an advanced building infrastructure, good accessibility and flexibility in terms of size. All of these features were required for reasonable occupation costs in line with the “back office” nature of the facility.

Strategy

Working with the client’s regional office and local real estate team, CBRE clarified the objectives in terms of rental budget, length of lease, location preference, floor size and the overall technical requirements of the company.

Having identified all possible options, CBRE undertook the following tasks:

• Analysis of all options available in the market
• Analysis of the Bangkok office market
• Inspection of the shortlisted buildings
• Preparation of a matrix for analysis
• Drafting of an analysis of total occupation costs
• Preparation of the strategies for negotiating with the landlord
• Negotiation of lease terms in conjunction with the client’s legal counsel

Result

The team identified a high-rise twin tower office located in the non-CBD area, which offered the optimum qualitative and financial package. CBRE then represented the client in finalizing a lease arrangement, which included a contraction clause, a clause for early termination and the right of first refusal, securing the roof top signage and also negotiating with the landlord on a phased occupation. The client finally leased 14,200 square metres of office space.