Case Studies

FASTER • CHEAPER • BETTER

LORD Corporation is a diversified technology and manufacturing company who develops
highly reliable adhesives, coatings, motion management devices and sensing technologies that significantly reduce risk and improve product performance.

When the workplace needs of its Hong Kong headquarters lessened, LORD saw an imminent lease renewal as an opportunity to relinquish one of its three leased units in Central Plaza. But the company needed help to restack the working environment and manage the transition of personnel, equipment and materials, with minimum disruption to their operations or neighbouring tenants and a desire to do this as quickly as possible to minimise operational down time by using the Christmas and New Year holiday period to do so.


TOUGH CHALLENGE 
The company was anxious to proceed, and believed that a high price was unavoidable. They met with a large, reputable design firm, and were prepared to go along with a design and build delivery model / proposal that was presented.

That’s when Colliers got involved. A member of its Project Management team in Hong Kong heard about the project, and contacted Lord to offer an alternative. With the other design firms’ proposal already on the table, it was imperative to rapidly understand the detailed client requirements, establish a trusting relationship, and then demonstrate that a much higher service level was viable.

One of three adjacent units, with a net area of 1,135 square feet, was to be returned to the landlord, and the remaining 5,300 square feet reconfigured to maintain existing operation levels.

After a series of face-to-face meetings and a lightning-fast assessment of the project needs, the Colliers Hong Kong Project Management team (PJM) highlighted the opportunity for an improved design and layout plan at a significantly lower cost – and demonstrated its good faith – by suggesting to obtain competitive design and build proposals from three other design firms to support their opinion and recommendation.

The PJM team performed technical and commercial analysis of the design firm submissions and recommended going with Yeo Studio’s, who met the aggressive project delivery schedule with a much stronger design proposal and at a cost that was close to HK$2 million below the initial quote received by LORD.

A WINNING RESULT
Under Colliers management, the restack project was completed in only nine days, delivering continuity of functionality, greater capacity, improved space efficiency and an enhanced look and feel.  It exceeded LORD’s expectations and all at price markedly below our competitor’s offer.  As Colliers completed the reinstatement and handover of the excess unit to the landlord, it was clear that a valuable new business relationship had been forged.


Contact


“The project was delivered successfully whilst a good relationship with the other building tenants was maintained..”

Lord Asia International Limited
Hong Kong
Colliers International | Hong Kong Suite 5701, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong | Tel: +852 2828 9888