In this case study, we share the experience of a tenant who sought a new office space in Tanjong Pagar. The tenant reached out through CommercialGuru, and this story highlights the journey of assisting the tenant in finding a suitable office space, demonstrating the importance of clear communication and efficient planning.
The tenant initiated contact in February and expressed interest in relocating the office. However, it became apparent that the tenant was only partially ready then. A phone call was made to understand the tenant’s requirements and intentions for the move. Discussions led to setting a viewing date.
Tenant's Challenges
The tenant had a relatively flexible timeline, not requiring immediate occupancy. The process began with inquiries in February, with discussions ongoing in March and April. Still, there needed to be more clear progress toward securing a new office space.
Our Solution
We recognized the need for a more concrete plan and delved deeper into the tenant’s goals. We asked the tenant to envision their position in the next five days, weeks, months, and years. This exercise helped the tenant realize the urgency of their situation and the need for decisive action.
The Outcome
Within five days, we shortlisted an office space and drafted a letter of intent to present to the landlord. In the following five weeks, negotiations with the landlord on lease terms were completed, and the letter of offer was signed along with the initial payment. Within the next five months, the tenant renovated the space, even conducting preliminary measurements before possessing the property.
Commercial leasing often involves approvals from building management for renovations, which can take time. The tenant had to engage interior designers, obtain quotes, and ensure compliance with building guidelines. This process confirmed that the space was ready for their use. The new office was handed over in June, leading to a successful and well-organized transition.
Conclusion
This case study demonstrates the importance of setting clear goals and timelines when searching for a new office space. By engaging in thoughtful discussions and strategic planning, the tenant was able to find a suitable space that met their needs. Effective communication and a well-structured approach can lead to a smooth transition, resulting in a satisfied tenant and a successful office relocation.
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