ANZ Bank's national leasing portfolio

Background

We have acted for ANZ Bank for over nine years and manage a significant portion of ANZ's national leasing portfolio. This includes drafting and negotiating leases and related documents and providing related advice.

Client objectives

ANZ Bank wanted to work with a select group of law firms to deliver a national retail leasing management solution that would provide cost certainty, increase productivity and improve turnaround times across its portfolio, including branch, office and ATM leases and related transactions.

Our role

We were asked to develop a pricing model with very strict criteria, which included fixed fee prices for different types of transactions based on a fixed number of rounds of negotiations. To ensure budget certainty for matters that exceed the agreed number of rounds of negotiations, we also allocated a fixed price for each additional round of negotiations. 

Outcomes

For ANZ, we have been able to:

• reduce legal turn-around times, resulting in reduced deal risk, and
• improve standardisation across their suite of leasing documents, reducing out-of-scope qualifications and quality issues.

Due to our track record of delivering what we promise on time and within the agreed budget, we consistently receive a large share of legal instructions from ANZ in this area.