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WPP: Win-win lease negotiation in Copenhagen
 Objectives
and tasks
A newly acquired WPP company came with a challenging legacy
- three floors of under-utilised and inefficient space in
a decaying Copenhagen building. The business was suffering
because of the run-down environment but no capital was available
for improvements.
Fulcrum was charged with:
- Delivering upgraded space at minimum cost
- Maximising the potential of the three floors
Resourcing
Fulcrum provided the negotiation expertise together with
day-to-day project management.
Outcomes and benefits
We negotiated a restructured and more flexible lease
where, in exchange for an extended lease commitment, the landlord
undertook a £0.5 million refit. Several WPP companies
co-located within the more efficient workspace and one floor
was subsequently sub-let, together generating savings of over
£200,000 per annum.
 Testimonial
"Fulcrum has worked with WPP for the last 10
years, throughout a period of substantial growth, and has
been instrumental in putting together a global real estate
management structure for us, including a property database
and the award-winning Space Program. Fulcrum's current remit
extends from the UK through continental Europe and Asia Pacific,
covering strategy, database management, benchmarking, transaction
management, and the allocation and management of CapEx. Fulcrum
acts in a broad consulting role and also works in close partnership
with our in-house team in the US and our operating companies
worldwide."
Paul Richardson
Group Finance Director
WPP
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