The Landlord was constructing a high-value office building for lease and approached Madgwicks’ Leasing Team to assist in developing a precedent Agreement for Lease and Lease that can be marketed prior to construction completion to ensure the building was fully leased as soon as possible.
The building was successfully let prior to construction being completed which was less than one year from engaging Madgwicks on the matter. Madgwicks’ worked closely with the landlord client to develop a precedent Agreement for Lease and Lease tailor-made for the Landlord’s development. As soon as the documents were finalised, the client marketed the building for lease and once commercial agreements were reached with prospective tenants, was able to finalise all lease arrangements prior to completion of the building.
The Landlord was consistently pleased with the outcomes of the matters and the commercial approach that Madgwicks took to help the Landlord to achieve their goal of finalising the leasing arrangements prior to completion with the knowledge that they had not compromised the terms of sale.
How Madgwicks Helped:
To achieve a positive result for the landlord, Madgwicks:
- Developed a precedent Agreement and Lease tailor-made for the Landlord;
- Drafted each individual Agreement for Lease and Lease promptly after the landlord and prospective tenant reached agreement on commercial terms;
- Maintained a suite of special conditions and clauses that both the leasing expert and landlord determined as preferred positions to ensure uniformity across the agreements related to the building and a consistently good result for the landlord; and
- Negotiated the Agreements for Lease and Leases in a timely manner and consistently provided solutions to unfavourable positions proposed by the prospective tenants. In this manner, the Madgwicks’ leasing expert worked closely with the landlord to ensure that they understood the commercial reality of the agreement and ensured that negotiations between the parties did not stall on legalistic and hypothetical positions.