The Conference Board had a lease in their offices in Watermael-Bosvoorde that expires in 2021. A stay-or-leave analysis was necessary to make a forward-looking decision regarding their accommodation. It was considered to move more towards the city centre, near a main train station. Stay-or-leave was not excluded, possibly on a somewhat smaller surface.

Freestone's independent position and market knowledge was a reason for The Conference Board to work with us. The rental of this client concerned 1,250 m² of offices and 12 parking spaces. The building and the location were examined and assessed by means of a SWOT analysis. Subsequently, a market consultation was organized into qualitative and available buildings in the neighbourhood and near the centre of Brussels. The changing needs of this client were always taken into account.

The existing offices were redesigned by Freestone's workplace experts taking into account the changed needs. Cost sheets were also calculated for this purpose. Consultations took place with the owner to discuss new conditions.

Project sheet

Customer: The Conference Board
Timing: May- December 2019
Project description: Stay-or-leave and lease negotiation The Conference Board
Location: Watermael-Bosvoorde
Size project: 1.250 m² office space & 12 parking spots

Approach

Define strategic vision for future housing
Formatting future space needs
Analysis of existing building in view of future space needs
Market analysis of alternative options
Formatting stay-or-leave business case
Negotiation with top 3 shortlist properties, including current property
Evaluation and recommendation
Preparation new lease contract

Result

After drawing up a stay-or-leave business case based on negotiated solutions, it became clear that a stay scenario was the most desirable. The rental conditions were strongly optimized and significant savings were negotiated over the duration of the new contract. Moreover, these conditions took effect one year earlier.