rethink cost

Instant’s market expertise and support secured this leading technology firm the ideal off-market workspace in central London, at a fraction of the list price.

Context

This leading global technology firm approached Instant to discuss high level availability and pricing for a large project in Central London. The search was linked to a critical lease date and was highly location sensitive, with both factors being primary drivers throughout.

Goal

To find a high quality workspace for 150 people across two teams, close to the client’s existing premises in Southwark SE1 and within a very specific timescale.

Challenges
  • Limited flexible office market expertise
  • Proximity to client’s existing SE1 location was crucial as the teams would be travelling between sites regularly
  • Client was fixed to a predetermined end date to coincide with group business activity across other existing locations
  • The team had already been recruited, so space was required by a scheduled date
  • Stringent internal approval processes, with any costs being scrutinised against traditional delivery models and approved by several internal stakeholders
Solution
  • Instant benchmarked the whole market, covering both shared and managed workspace options to find the ideal solution for the client
  • Instant produced a report indicating suitable locations plus a detailed breakdown of possible layouts to suit the client’s requirements
  • Instant ultimately sourced an off-market shared solution comprising:
    • An SE1 location moments away from the client’s existing premises
    • 19,000 sq. ft. across a full floor within a new WeWork building - secured several months before the space had been made publicly available
    • Negotiation of a substantial discount (>40%) against list price
  • Our client has the ability to tailor the space, creating the ideal layout for its teams with Instant’s support
Transformation
  • Improve decision making: Instant provided visibility of the whole market, benchmarking options to help our client make an informed decision about the best solution for its needs
  • Leverage actionable insight: Combining market insight and local relationships, Instant secured the ideal off-market space for the client, months before it was listed publicly
  • Enhance financial  performance: Instant negotiated a saving of over 40% against initial list price
  • Attract, retain and enable talent: Instant ensured the client was able to create a bespoke layout within the space to match its team’s exact requirements

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Rethink Opportunity
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