Case study- Optimization of real estate assets and relocation
A Portuguese banking company requested our services for a real estate assets optimization and headquarters relocation process.
We evaluated the headquarters using the method we considered most appropriate for the situation, analysed the cost drivers (rents, water, electricity, cleaning, security and maintenance) and the building’s occupation conditions (from work, training and common spaces to technical equipment and warehouses/parking).
Once this diagnosis phase was completed, the study of alternatives began, which consisted of two options: maintaining the current building, more specifically optimising the use of space, updating the technical equipment and also renegotiating contracts (rental value, exit flexibility, among others). The second option was to look for alternatives on the market, which would be carried out with an integrated solution in which we would look for a facility that included both administrative and training services or an autonomous solution in which we would look for a facility for the administrative services and look in other markets for the training services.
We then presented a proposal to support the process of changing premises where we committed ourselves to looking for premises in accordance with the company’s requirements. Once the new premises for the head office were approved, we proceeded with several negotiations with special focus on the new location (as well as rents, contract terms, bank guarantees and right of preference for a possible increase of spaces), aspects of the current building (such as timing for exit and early exit indemnity clause) and finally the type of training rooms. We then carried out the adaptation of the spaces and supported the process of change.