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Abbott - CW bound the sale of an old real estate site with the rent of a new office building

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The Challenge

Abbott occupies a semi-industrial building of which they are owners for more than 30 years. At the same time, they rent an additional platform of offices in a business park not far from their site in the South periphery of Brussels. Abbott wishes to group all her staff in one building of rank A, technically reliable and financially interesting. C&W is instructed by Abbot to find the solution.This must be realized within a few months.

The Solution

Stage 1: Estimate the selling possibilities of their site at the best price in spite of the age of the building and study the legal aspects relative to the lease contract of the additional spaces.

Stage 2: Identify the various existing alternatives on the market and propose a link between the new leasing of office spaces with the resumption of the old site. Without possibility of relatively close exits, look for potential subtenants of the additional surface.

The Results

Abbott agreed to sell her site to Codic a well known development company. Codic will take care of looking for a new occupant in the old site (which CW did, moreover) and will rent for a long duration a brand new building to Abbott. Afterwards, CW managed to find a new tenant able of rent the running conditions on the lease of the additional surface.