Deutsche Bank Place, 126 Phillip Street, Sydney NSW

Scope: 4,500 sqm
Service: Tenant Representation

Challenge

• Relocate Ebsworth & Ebsworth Lawyers as their current premises was deemed redundant and cost ineffective
• Mitigate costs as there was a 10 year lease commitment remaining over the existing premises and a full make good obligation at lease end

Action

• Negotiated directly with the landlord on a lease surrender deal
• Preparation of cash flow analysis and different scenarios
• Direct negotiation with landlord to release Ebsworth & Ebsworth Lawyers from their lease obligation.

Result

• The successful release from their lease obligation within the premises with no make good obligation and a rental saving over the remainder of the lease term of $300,000 and $27 million respectively
• Ebsworth & Ebsworth Lawyers merged with Home Wilkinson Lowry to form HWL Ebsworth Lawyers. The head office is currently situated in Australia Square, 264-278 George Street, Sydney