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Consortium Sonae / ING / Iberdrola and CGD - C&W awarded co-agency instruction to find new tenants

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The Challenge

C&W have been instructed by the consortium Sonae / ING / Iberdrola and CGD to market the Tower Oriente, which is part of the Colombo Towers, on a co-exclusive basis.

The objective was to succeed and lease 100% of this big project of 29,000 sq.m in a difficult market.

The Solution

Given the size of this instruction and the strategic decision to go to the market on a pre-let basis, we decided to include large occupiers as target. The initial idea maximum of 1 tenant per floor, which meant 2,000 sq.m for each tenant, and according to this, a marketing strategy was put in place to make the best possible impression within the market. All information was presented directly to the tenants.

Fujitsu Services is a good example, in which, in spite of many formal requirements, specially as far as the technical specifications are concerned, it was possible to win this pre-let deal when we were competing with other countries. Fujitsu Services brought to Torre Oriente its shared services and therefore created more than 500 new jobs in a 6,082 sqm area.

The main tenant is Barclays Bank who occupies over 12,000 sq.m, which was the biggest leasing of the year.
Cap Gemini, Geostar and Ferrostaal are the other occupiers who completed all the remaining area of the entire Tower in a very short period.

The Results

C&W managed to add value with long term leases and good quality tenants which led the consortium to a successful disposal of the Tower to an international property fund.

The huge success of C&W work was also compensated with a new instruction for the second building, Torre Ocidente.