As a result of an expansion in their headcount, SOS needed to take on additional space in their building while ensuring their financial decisions maximized the amount of donor monies funding their program offerings.
SOS Children’s Villages offers safe and nurturing family homes to over 80,000 orphaned and abandoned children in 134 countries worldwide. SOS Children’s Villages (Canada) is headquartered in Ottawa with offices in the Byward Market.
As a result of some expansion in their headcount, SOS needed to take on additional space in their building at 44 Byward Market Square, and they planned to do so by taking on a very short term sublease, combining their suite with the sublet space and then negotiating a wraparound agreement to extend the term of the larger space.
Being a charitable organization SOS is extremely conscious about making the best possible financial decisions so that the maximum amount of donor monies can be diverted to the programs that it delivers.
SOS engaged Proveras’ team to assist in their negotiations of an expansion and new lease for a larger premises. Having significant experience in negotiations with independent Landlords, Proveras knew that there would be little money offered for tenant improvements – they were instead able to secure a new lease that had extremely favorable rents and a free rent period that covered the costs of combining the new premises with the existing one and the minor work that went along with making the combined (larger) space functional.
SOS Children’s Villages entered into a new lease for a space that will support its growth for the foreseeable future and under business terms that ensure that occupancy costs are a very minor expense, allowing more funds to be diverted to children in need.