INTRODUCTION
Macquarie Capital Securities, hereinafter refer to as 'Macquarie', was looking to expand their operations in Singapore. Upon the expiry of their current premises, Colliers International was engaged to assist Macquarie in the search of a 6,972 m² (75,000 ft²) office space.


CHALLENGE
The financial markets were bullish and the limited supply of office space pushed rents to historical highs. Given that Macquarie needed to re-evaluate the operational usage of their space taking into consideration expansion, a new building was preferred but only if the rents is competitive.

Colliers worked through various short and long term strategies and identified the best strategy that catered to Macquarie’s expansionary requirements. The team thereafter embarked on a thorough search for all options that are available in the market.

Given that Macquarie had extended its current lease at Capital Square for another 3 years, Macquarie was able to explore new developments which will come online after 2010. The priority for Macquarie was to keep their real estate costs low and to minimize any disruptions to its operation. At the same time, given that Macquarie will be increasing its headcount strategically over three years, a flexible lease term is necessary to facilitate the expansion, which was a challenge to achieve given it was a landlord’s market.


SERVICES 
An extensive coverage of the market on building options were conducted, taking into consideration various business units’ priorities, staff demographics and building technical specifications.


RESULTS
A lease acquisition at Marina Bay Financial Centre Tower 2 was made, catering to their business plan to expand vigorously in Singapore. Colliers validated and provided extensive advice and recommendations on all heads of agreement negotiations. 

Colliers successfully negotiated for a competitive rental rate for Macquarie and managed to secure the required flexibility within the lease contract over a 10-year term.

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