Accompanying the magazine “The Economist” leaving their office spaces and looking for new premises in Geneva

The starting point

The Economist Group, Britain’s leading magazine, was in urgent need of larger office spaces in the heart of Geneva and could not wait until their current lease was up. They contacted SPG Intercity Geneva SA to not only help them rent out their current surfaces, but also to find them a new location best suited to their specific needs.

The solution

Disposal of offices: SPG Intercity Geneva SA took the adequate marketing dispositions (advertised the surfaces on the internet, in the press, with mailing lists and networking, etc…) in order to find a suitable tenant and communicate specific information to interested parties through the whole process. Always with our client’s best interest in mind, we analysed the different candidates and negotiated the best terms for their lease contract terms.

An agreement was made on a novation between the landlord and The Economist, which was the best option for both parties. Consequently, the group was freed of any obligations tied to the property and a new contract was established between the landlord and the new candidate, a law firm.Finding the new site: The combination of the different criteria of research and a thorough analysis of the current office market enabled us to deliver our "Long List" of matching and available options to The Economist Group.

SPG Intercity Geneva SA helped by selecting methodologically and by providing financial analysis and recommendations on the different options. The Group opted for premises on "rue de l’Athénée" with a total surface of 646 sq m. We represented The Economist and its interests exclusively in the negotiations and assisted them until the conclusion of the lease contract. Specific needs: The Economist Group decided to rent the first floor of the new offices with a surface of 227 sq m.

Through another collaboration, SPG Intercity Geneva SA managed the entire disposition process of this space; searching for potential tenants, organising viewings, handling negotiations and overseeing the lease contract details to ensure that the best terms were met.

The result

The Economist Group now occupies two floors out of three, including a terrace (ground floor). They benefit from an excellent location and from natural light, in adapted premises mixing open spaces, private offices and hot-desking areas. Thanks to SPG Intercity, The Economist didn‘t have to pay double rent for their previous offices.

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