Snap Print & Design engage Franklin Shanks for a lease renewal

As the go-to specialists in business printing for over 120 years, SNAP provides an end-to-end printing service, with the ability to implement every aspect of printing requirements, from the initial brief and graphic design through to printing and the finishing touches.

Franklin Shanks work closely with Snap on their property portfolio, and in this instance were engaged to secure a critical renewal for their largest CBD print centre nationwide.

Key Challenges

Renewing in the midst of Covid recovery in early 2022, Snap were faced with uncertainty about whether a renewal would be offered by landlord. Franklin Shanks worked directly with the Landlord’s representative and the Franchisee to ensure all parties were assured and confident in making a commitment of a new 7 year term.

A further challenge presented in the commercial terms, which were offered at a materially higher rate than the previous term, and compounded by aligning with the natural end of a two year covid rent waiver/deferral period.

Outcome

Franklin Shanks provided a stay-go analysis, benchmarking the rent and incentives, and conducting a financial review of the offer against feasible alternative options. The best option was to renew the lease, due to complexities in relocating machinery; however, benchmarking showed that whilst face rent was aligned with the market, effective rent was out of step due to soaring incentives in CBD markets throughout 2021-22.

 A market rate incentive was then successfully negotiated, incorporating clearing remaining covid deferral payments, and providing a significant abatement period. This allowed the franchisee to ease back to the face rent value in line with their covid recovery trajectory.

“My advice to any business with property leases not just high-risk ones: When it comes to portfolio security and ensuring you are receiving the maximum benefits, engage the experts and call Franklin Shanks.” – Glenn Jarrett, CEO Snap Franchising 

If you would like to speak to Jaymie Rowland about your upcoming lease negotiations, reach out directly on +61 405 342 598 or [email protected]

The Holding Space Collective engage Franklin Shanks to secure a new space

The Holding Space Collective is a boutique private psychology practice that opened in September 2020. A Centre of Excellence (COE) offering a range of services that meet the needs of both individuals and families who have experienced trauma, grief, and/or loss. The Founders chose the name 'The Holding Space Collective' from a belief that this is the single most important aspect of any therapeutic journey - a safe, warm and supportive space for individuals and families to explore and express themselves, both their struggles and how they give meaning to their world.

Our Engagement

Franklin Shanks was engaged to deliver a practice space that echoed and supported their mission, as this was vital to THSC for their client’s wellbeing and successful therapeutic outcomes.

The Brief

To secure c.200sqm of office or retail space within Sydney fringe. Essential drivers were easy access and street carparking, a quiet, discrete space with a warm and inviting feel, good security, and natural light. THSC were looking to create a calming home environment, balanced by security for both staff and clients that an office/commercial building could better provide than a standalone house.

The Challenge

Finding a commercial space that didn’t feel like an office, or an open plan warehouse conversion. Small, private rooms and good internal soundproofing were essential and challenging to locate. Further, as a new business entering their first commercial lease, during the 2021 lockdown period, minimising fit out and occupancy costs was highly desirable.

The Solution

The initial range of inner west suburbs was expanded to include neighbouring Ultimo and Pyrmont, where heritage and character commercial spaces are more readily and reasonably available, with a greater selection of floorplates with individual offices/rooms rather than open plan, high ceiling spaces.

The Holding Space Collective now call the iconic Farmers and Graziers building on Wattle St home, with timber floors, arched windows and building security for staff, and readily accessible weekday parking for clients. Secured on a 3 year term at highly competitive rates, and with the very first small tenant e-guarantee in the Sydney market, eliminating the need to tie up valuable cash flow in a bank guarantee.

“Our experience of working with Franklin Shanks exceeded our expectations. They provided excellent end to end service, expert advice and market knowledge, and all at a very reasonable cost to our business. Their enthusiasm, transparent communication, and passion for delivering a quality service supported us through what might have been a difficult process. We would highly recommend them.”

April Ash & Louise Turner, The Holding Space Collective

If you would like to speak to Jaymie Rowland about your upcoming lease negotiations, reach out directly on +61 405 342 598 or [email protected]

Franklin Shanks assist Acumentis with Office Lease Acquisition | Alexandria, NSW

Client satisfaction is everything to us. Our team are passionate about what they do, so that when a client leaves a testimonial like this one from Acumentis, it emphasises how much value we add during a lease transaction. Nathan Wang, Senior Associate, took the time to understand Acumentis Group’s business and property goals and secured a very suitable premises in a desirable location. Here is a message from John Wish, CFO and Group Executive Director at Acumentis Group.

“Acumentis engaged Franklin Shanks to assist in locating a new office in southern part of Sydney to replace our long standing Rockdale office.

We had a relatively tight budget and were looking for space that would provide good amenity to our staff, have onsite parking and be close to public transport links, preferably rail.

Nathan Wang of Franklin Shanks provided several options that would meet our requirements in what at the time was a challenging market with limited opportunities.

Once we had selected our preferred option within Sydney Corporate Park in Alexandria, Nathan Wang and Franklin Shanks negotiated very strongly on behalf of Acumentis and we ended up taking a 5 year lease at an attractive gross rental and with the landlord providing a beautiful new fitout as part of the incentive.

Franklin Shanks took the time to understand our requirements and delivered a selection of properties that appropriate.

We saved a lot of time and are very happy with the end result.

We would whole heartedly recommend Franklin Shanks for companies looking for assistance with finding their next office.”

John Wish, CFO and Group Executive Director | Acumentis

If you would like to speak to Nathan Wang about your upcoming lease negotiations, contact him directly on M: +61 406 638 580 [email protected]