ICL Holding The Netherlands - Cushman & Wakefield

ICL Holding The Netherlands


ICL Business Case Amsterdam
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The Challenge

ICL Holding The Netherlands Cooperation U.A. (hereinafter ICL ) has selected Amsterdam as the central base for the European Shared Service Center. For this, ICL sought approximately 5,500 sqm of office space for 250 to 300 employees (FTE). Prior to the search for suitable housing ICL asked Cushman & Wakefield to advise on the best (real estate) strategy and guiding in the execution and implementation. Both financial and non- financial results for ICL played a key role in the acquisition of this new European Shared Service Center. Started with the negotation for a temporary office location for approximately 50 employees of the European Shared Service Center of ICL . This is found in a serviced business center of Regus . Meanwhile, ICL is housed in the building Princes Queen Wilhelmina Plein 30 in Amsterdam.


The Solution

• The corporate policies and approval procedures of ICL are defined and weighed;
• The intrinsic motives and objectives of ICL are aligned;
• The criteria and preferences of ICL are inventoried;
• On the basis of scenario planning a clear strategy and process structure is formulated;
• Based on the strategy defined and the program requirements ,a detailed
market research has been done;
• Alternative options in the market are explored;
• Negotiations have started and with the use of modeling in terms of optimal insight
quantitative and qualitative limits;
• Conditions are laid down in a so-called 'Letter or Intent' and legal diligence is 'due
coordinated and the commercial agreements have been monitored.


The Results

C & W has ICL negotiated a significant financial saving for a long-term lease from 1 January 2015. Following the temporary housing in a serviced business center of Regus, advisors of C & W have negotiated a lease for housing in building Prinsenhof in Amsterdam. This agreement with the ICL Maarsen Group offers the flexibility that is needed for the European Shared Service Centre because of the possible growth of the company in the building but also all the possibilities for subletting and even transfer of (part of) the contract to another tenant. It is also agreed that ICL has the right to leave the location at the end of the lease in the condition of that moment.

"The consultants of Cushman & Wakefield are pleasant to work with, they have extensive knowledge of the real estate office market in Amsterdam and managed to translate this into an excellent solution for ICL. Also on ICL's senior management consultants of C & made a very experienced impression. We appreciate in particular the availability and excellent communication of C & W and recommend the consultants."
Steven Degen, Vice President Finance Europe ICL.

Contact

Pieter van der Peet

Partner

Phone +31 208002052

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