Acquisition and fit-out of headquarters

ORPEA retained Parella to help it with the acquisition of a building to be refurbished for the installation of its future headquarters
Puteaux
Paris
7500
480
people

Context and objectives

Different neighboring developments

Intention of Executive Management to buy

Overall economics of the project in line with market

Non-aligned lease expiry dates

Current headquarters spreading out over different sites, are obsolete, with little flexibility and impeding the management of Orpea’s growth

Desire to consolidate and encourage collaborative methods and synergies between functional entities

Intention to build team spirit around the project

Extremely short deadline

Our assignment

  • Audit of existing factors
  • Strategy and definition of a real estate outline plan
  • Transactional assignments
    • Renegotiation: aligning current lease expiry dates
    • Thorough real estate search including off-market
    • Guidance for purchase of an existing building to be refurbished
  • Assistance to Project owner (AMO) assignments
    • Detailed programming of requirements to fit-out future headquarters
    • Adaptations to the building to bring it into line with requirements
    • Drafting of the fit-out brief, space planning and overall decorative design
    • Guidance during the design phase, up until the move
      • Monitoring the “owner” works
      • Monitoring the “user” works
  • Cross functional assignments
    • Guidance for change management: employee representation bodies (IRP), Global communication policy

Key success factors

Independent real estate advisor

Holistic approach through a multidisciplinary team

Proven methodology and strong analytical capacity

  • Budgetary planning and control
  • Centralized and controlled communication
  • Proposal of tools and formats adapted to the various correspondents: executive management, work groups, IRP

Good listening skills and inclusion of strong constraints: schedule and budget

Ability to convince Executive Management

Ability to negotiate in an objective manner

Ability to hand the whole value chain: from the transaction, design and execution of the works up to the move to the new headquarters

Results

The quality of Parella’s combined expertise reinforced Executive Management’s confidence in the success of the project within the initial framework set

Project supported by the associates, swift appropriation of the premises

Maximizing the value created from an existing building due to full refurbishment

Optimization of the budget allocated to the project and thus in accordance with the tight schedule

Parella’s independence enabled us to work beyond the negotiation assumptions contemplated within the framework of the acquisition of our head office
Thierry Guerard, Purchasing Director
ORPEA

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