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Case Study | Lundbeck office renewal

Case Study | Lundbeck office renewal

Introduction

Lundbeck is a world-renowned pharmaceutical company that develops and manufactures drugs for the treatment of psychiatric and central nervous system disorders.

Challenges

  • Tight schedule, tough challenges
  • The landlord had sent the first round of quotes, and the client had approved it before Colliers was appointed 
  • Close to the expiration date
  • Affected by the pandemic, the client did not have a renovation budget, and the landlord had a clear advantage

Strategy / Services

  • Build trust with the client
  • Voice through a single channel
  • Understand the mindset of the landlord
  • High Level Leadership Support

Results

  • Successfully helped the client renew the lease at below-market rates
  • Helped the client save over 10 million RMB during the three-year lease renewal period
  • Helped the client secure expansion space and lease flexibility

Client: Lundbeck
City: Beijing
Transaction Date: April 2021
Property: Parkview Green
Site Area: 2,300 sqm gross
Deal Type: Renewal