Featured Clients
Embry-Riddle Aeronautical University (ERAU) is the largest accredited university system specialising in aviation and aerospace. The university has set up their Asia campus in Singapore, and has employed VestAsia to represent their first office, subsequent lease renewals, and its recent acquisition for its training school site.
Embry-Riddle Aeronautical University
Service
New Lease
Lease Renewals
Size
Location
Selangor
est. 30,000 sq. ft.
The Challenge
ERAU needed a location that would not only accommodate their operational requirements but also provide long-term stability due to the high capital expenditures associated with their premises. Additionally, finding a favourable lease in a competitive market, especially one that offered sufficient security and reasonable rental rates, proved to be complex.
How we helped
VestAsia first represented ERAU in their initial office acquisition at Boon Siew Building in 2012 and continued to support them through subsequent lease renewals. For the latest assignment at Seletar Aerospace, which spanned from May 2021 to June 2024, we leveraged our market intelligence and extensive connections to identify and secure a prime location that ERAU had difficulty finding.
We successfully negotiated a long-term lease of nine years with fixed rental rates, ensuring there was no termination option for the master tenant. Our efforts resulted in securing an exceptionally low rental rate compared to other locations in Singapore, with estimated savings exceeding S$1.5 million over the lease term.
Through this project, VestAsia demonstrated:
Expertise in navigating complex real estate markets to secure advantageous lease terms;
Deep understanding of the specific needs of the aerospace sector; and
A strong commitment to aligning our strategies with the long-term goals of ERAU, facilitating their growth and operational success in Singapore.
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Get in touch with us to see how we can represent you today!
