When M&F’s lease in their 3 000m² regional office in Benoni was up for renewal, several options were investigated: 1) renewing, 2) renewing and refurbishing or 3) relocating to other premises (including a nearby property that they owned).

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After exhaustive analyses of alternatives, it was decided to sell the owned property in Benoni and refurbish the leased premises to upgrade the public image as well as staff efficiency/morale. In exchange for a long(ish) lease, the landlord was convinced to reduce the rental by almost 30% and provide a small fit out allowance to pay for some of the refurbishment.

 

In addition, a space planning exercise allowed the branch to reduce it’s useage by 17%, from the 5 upper floors in a terraced building to just the lower/larger 3 floors garnering further cost reductions.