Location
Causeway Bay, Hong Kong
Size
30,000 sq.ft.
Type
Office Lease - Renewal
"His dedication, transparent & clear communication and negotiation strategies guided us through the complex negotiation process with the landlord, where PepsiCo Inc. achieved the below market rent in recent renewals."
Grace Lam
Senior Human Resource & Staffing Manager
Brief
We were appointed to provide tenant representation service to negotiate 3 consecutive lease renewal for PepsiCo. Between 2010-2017.
Solution & Outcome
During this period, Hong Kong office market continued its strong upward trend, market rent increased approx. 50% between 2010 to 2017.
Our main target was to break away from the market increment percentage, to minimise expenditure for PepsiCo.
By deploying different strategies and send out various signals in the market at the right time, we managed to negotiate renewal rent that was below market rate for both area and building.