Flutter secures 20% rent reduction and a four-year lease renewal with iO Partners
28. 08. 2024
Looking to downsize and reduce costs, Flutter enlisted the help of iO Partners, who, despite a tricky market, negotiated a money-saving deal while maintaining Flutter’s office size.
Challenge
Needing to downsize its office space and reduce the leased area, development company Flutter sought expert guidance to achieve greater flexibility in its long-term lease and reduce costs. To achieve this goal, the company appointed iO Partners.
Approach
Navigating a regional market with limited stock and minimal viable relocation options, iO Partners set to work preparing a stay-versus-go analysis. This was completed to compare the benefits of
Results
Equipped with these insights, Flutter decided to stay and keep its current size. However, iO Partners successfully negotiated a lease deal that resulted in a 20% reduction in rental costs, providing immediate financial relief and improving Flutter’s bottom line. This makes Flutter one of the few companies able to maintain its original size and commit to a four-year lease renewal two years prior to the lease expiry amid the uncertain market.