Case studies
Four mandates, and what they produced.
Each one is set out the way we would report it to a client: the position we inherited, what we did, and the measurable difference. Where terms are confidential we say so plainly.
Selected work
The four mandates
Acting for a landlord, a tenant, a landowner, and once with our own capital at risk. Each case study is set out in full on its own page.
Acting for the landlord
A clause that had never been tested
A contractual rent entitlement tied to the tenant’s reported performance had run for more than a decade without an audit. Ten years of records were reconciled, the shortfall was settled in full, and the rent was reset at the concurrent review.
Acting for the tenant
58 leases, one negotiating position
A national fitness chain engaged Klug as sole tenant representative within days of the first Covid-19 lockdown. Abatements of 40–100% were secured across 57 clubs and a head office, held as one position rather than argued site by site.
Acting for the landowner
The deal we advised a landowner to decline
A national grocery retailer proposed a 50/50 joint venture in a redevelopment of more than $300m on a 15.5-hectare site. The downside modelling did not support it, and an alternative structure was agreed and executed instead.
Acting as principal
Our own capital, the same discipline
An Auckland commercial property acquired off-market below independent valuation, then re-geared, made compliant and subdivided. A staged divestment took total proceeds to $3.2m on a $600,000 equity position.
A note on the numbers
Savings are stated on a net present value basis and measured against the counterparty’s opening position, not against a notional worst case — so the figure reflects the gap actually closed at the table.
Client identities, engagement terms and commercial detail covered by confidentiality undertakings are withheld deliberately. Where a number cannot be evidenced from the file, it does not appear on these pages.
Have a similar position to argue?
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