Ontex Lease Renewal
Size:
16, 514 sqm
Project Type:
Lease Renewal
Location:
NSW
Ontex's needs:
  • Significant capital invested within the warehouse, a 9 monthlead time was required to transition into alternate premises if Ontex relocated.
  • Ontex commitment to remaining in Australia was subject to securing major contracts, they were to be awarded very close (within 6 months) to the lease expiry date leaving limited negotiating leverage.
  • Ontex overseas management were questioning the merits of continuing to manufacture in Australia.
  • Only existing buildings could be considered if Ontex had to relocate, as they had highly bespoke requirements. 
The TMX difference
  • Implemented a strategy of only negotiating with the existing owner instead of going to market to demonstrate a sense of good will.
  • Established a list of lessor, works to improve both the functionality and aesthetic appearance of the asset for Ontex. 
  • In a market favouring the lessor utilised robust local market intelligence to quantify the commercial terms and conditions we were looking to achieve for Ontex.
  • Formalised the lease extension within a swift timeframe liaising with both the local and overseas in-house legal and finance teams at Ontex.

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