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Maximising revenue recovery for Oracle Corporation

Oracle Corporation is an American multinational company that specialises in developing and marketing enterprise software products. Following its acquisition of Peoplesoft in 2005, the company was left with four surplus premises totalling 8,200 sqm with a cost exposure of around AUD 12 million. Oracle aimed to dispose these properties as quickly as possible to maximise revenue recovery from its lease commitments. Jones Lang LaSalle was given the task of handling the disposal process, which we achieved while going beyond Oracle’s expectations.

Essentially, we were able to dispose all four properties within 12 months with a recovery of around 60% of cost exposure. This was done by sub-leasing three properties – Zenith Centre Chatswood, 300 Queen Street Brisbane and 476 St Kilda Road Melbourne – and surrendering one – 465 Auburn Road Hawthorn – back to its landlord. Considering that all of Oracle’s requirements were met and done on time, this project proved to be an unqualified success for our firm.

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