INTRODUCTION
Colliers International was appointed by RBC Dexia (RBC) to conduct a comprehensive option study for RBC’s immediate and future expansion needs.

CHALLENGE
Singapore was experiencing a tight supply of office space and choices were limited in the Raffles Place locality, which was RBC’s preferred location. The client’s intention to only take up additional space upon expansion had also posed a challenge to the team as the tight supply had caused rental rates to increase rapidly. A solution had to be identified urgently in view of the impending lease expiry of the client’s existing premise.

SERVICES
RCB was expanding and a lease renewal at their existing premises was not an option due to the high rent. Colliers hence carried out a comprehensive study encompassing various options to cater to RBC’s immediate and future expansion needs. A thorough financial analysis of lease structure scenarios was also conducted. On behalf of the client, Colliers undertook all lease negotiations with landlords.

RESULT
Colliers assisted RBC to determine their space requirement and expansion needs through space programming. This enabled Colliers to create competitive tension amongst the landlords via a Request For Proposal process.

Colliers successfully secured a choice premises within Equity Plaza in Raffles Place at competitive lease terms for the client. Our analysis and forecast of the market had assisted the client in their decision making that resulted in RBC taking up additional space in advance in view of the rising rents, robust demand and an acute shortage of office space in the market.

 back to top