Synergy, after 7.5 years in their previous tenancy, engaged PropertySolve Transaction Management to explore market opportunities, including a ‘stay’ option, to accommodate their changing working style and business needs. With a lease expiry in late Q3 2024, it was crucial to complete all works in time to avoid double rent.
PropertySolve’s Project Management team facilitated a workplace strategy investigation to understand new working styles and estimate space requirements. Once agreed upon by Synergy’s Leadership Team, PropertySolve coordinated an Expression of Interest for potential properties, negotiated starting positions, and modelled scenarios. After further shortlisting and negotiations, PropertySolve negotiated a competitive outcome and secured a final agreement with Central Park.
The Project Management team then implemented a detailed project plan, adhering to stringent governance requirements as Synergy is a government trading entity. This included formulating and agreeing on a procurement methodology with Synergy’s procurement and legal teams.
Synergy’s leadership stipulated a move to an activity-based working model with a starting 1:0.8 person-to-desk ratio and ample lockers allowing to further reduce this if needed, coupled with the aim to create a compelling working environment that encourages staff to the office and allows them to work smarter.
Synergy secured a new 10-year lease and relocated to a purpose-built office environment whilst reducing lease costs compared to their previous location. The new environment exceeds the requirements set out by the leadership and steering committee and provides an equitable working environment for all staff.
Photos: Osprey Photography