2019-09-16-TransactionalServicesProposalDechertParisFINAL

Scope of servicres

2 Phase 2 : Implementation of Preferred Strategy Our service delivery in Phase 2 will of course depend on the chosen strategy. As you indicate in your request for proposals this is essentially a ‘stay versus go’ mission, but with still over three years to go before your lease expiry you may decide after Phase 1 to postpone any final decision in this respect until closer to the expiry date, or undertake short-term sub-letting of excess space to defray OpEx. Regardless of the strategy which is adopted Cushman & Wakefield will provide detailed advice and conduct negotiations on your behalf, through to lease finalization and signature. In the case of early lease renewal/re-gear, we will assist you in all aspects of the negotiations with Invesco, putting in place an effective ‘smokescreen’ consultation of the market, identifying credible alternative solutions which fit your timing and conducting a formal ‘RFP’ process with the landlords/developers of a short-list of properties. Naturally, should you ultimately decide to relocate upon expiry of your current lease, we would pursue negotiations on financial and lease terms for the selected building. Our French Tenant Representation team has very extensive experience in both cases. In Annex 3 we list examples of substantial lease renegotiations we have conducted and also examples of new lease acquisition. In the latter case we are fully familiar with all the issues pertaining to the forward leasing of properties under construction or undergoing extensive renovation/restructuring : as indicated above, given current market dynamics and the length of time remaining prior to your lease expiry, some kind of ‘build-to-suit’ solution - with discussions on the exact nature and timing of a building renovation/construction – would be highly probable.

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