A deep understanding of the drivers for both parties in major property leasing deals was fundamental to Corrs successfully advising Telstra on the largest lease agreement ever made in Australian commercial property.
Corrs assisted in the negotiation and implementation of more than 115,000 square metres of office space in three strategic CBD locations in Sydney and Melbourne.
The deals took into account the need for a partnership delivery model, for cost effective and flexible leases and the cultural transformation opportunities sought by Telstra.
Telstra won significant annual lease savings, along with agreements for major refurbishments of all three buildings over two years.
Corrs also worked with Telstra to appoint an outsource service provider for its 14,000 properties in the largest property services outsourcing agreement in the Asia-Pacific region.