Central, Hong Kong
Invesco is one of the most experienced financial managers in Asia and services local pension clients and individual investors. They are situated in Three Exchange Square in Central.
Requirements
Invesco wanted to appoint an experienced and professional property consultant to provide advice on their rent review with a major Hong Kong developer with the objective of bringing the rent in line with the market. Invesco occupied two floors in Three Exchange Square.
Challenge
Colliers had to bid for the instruction against fierce competition. After winning the instruction, Colliers had to conduct detailed research and analysis to justify market rents to the landlord. This included detailed analyses plus fair and reasonable comparables. In total, over 5 rounds of negotiations were conducted with significant debate on valuation methodology and quality of comparable evidence. The rent review was significant as it set a benchmark for the building and a series of other rent reviews.
Result
Colliers managed to successfully negotiate a 25% saving from the landlord’s proposed market rental.
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