Project References : Commercial Case studies
Bank Institute
Due to China's entry into the WTO, and as a result of new banking and financial regulations, the Standard Chartered Bank has been expanding its operations in major Chinese cities.
The Challenge
The bank's goal was to secure both office and retail space in Guangzhou. Despite differences in office and retail space requirements, the prerequisite was that both spaces had to be located in the same building. Timing, location and technical requirements were the main factors driving the decision as there were requirements of the Banking Authority that needed to be met as well.
Our Strategy
Savills' strategy was to set up a task force that combined professionals from both the retail and office team. This team was headed by an experienced senior staff who acted as a single point of contact with the bank, and coordinated all resources and efforts from Savills. Our task was to guarantee that all parties involved worked closely towards the same goal.
The Outcome
During this process, the bank adjusted their requirements several times due new strategies that were put in place. Savills' close working relationship with the Bank enabled us to better understand their business needs. As such, we were able to identify and secure space in a new building in a prime location where rentals were below market value. In addition, Savills successfully negotiated with the landlord to grant considerable wall space for advertisement purposes, greatly benefiting the operations of the Bank.
CONTACT
Woody Lam - Managing Director (Southern China)
WLam@Savills.com.hk
+8620 8132 0109 0107 - Guangzhou +86755 2598 0778 - Shenzhen