TRS 2010 Newsletter

IndependentlyNegotiating Space

TenantRepresentationServicesSYDNEY MELBOURNE BRISBANE

www.tenantrep.com.au

Recent Projects Inside

NEGOTIATION

Tenant Representation Services ("TRS®") is a performance based independent firm that only acts on behalf of commercial tenants - we do not represent landlords, agents, institutions or developers.

We represent tenants from 150Sqm upwards providing:

Transaction Management (Leasing) Services

Construction Probity (Fit Out Management) Services

TRS protects tenants through property searches and lease negotiations to coordinating your design, fit-out and make good.

Red Bull JAL Hunt&Hunt Lawyers

Campari (Sydney)Advent 7 (Sydney)FSA Group (Sydney)Red Bull (Alexandria)Smith & Nephew (North Ryde)Russell Investments (Syd / Melb)Lindt (Botany)Red Cross (Sutherland / Parramatta)Dimension Studies (Syd / Melb)AAM Hatch (Syd / Perth)Hunt&Hunt (North Ryde)Kawasaki (Rydalmere)SISS (Sydney)World Bank (Sydney)

Tenant Help Inside

Economic Outlook

Tenant’s Market

Negotiation Improvements

Contact Details

Latest Projects

Your Benefits


Enables us to act in your best interests and gain the highest lease and construction savings for your business.

Independence

100% Market CoverageHigh level competition through open market property listings from all property companies and landlords as opposed to only a limited market through one or two property companies.

Market KnowledgeThe latest market knowledge in lease transactions and fit-out negotiations, current incentives and construction costs.

Track RecordOur experience in delivering services to a range of tenants within various industry sectors including global multi-nationals, government departments and small companies.

Our ability to integrate transaction management and construction probity services providing total solutions.

Integrated Service

Professional DisciplinesA team of experts qualified in property, design and construction.

Tenant Tools (OPEX©)A range of lease and space evaluation proprietary software tools specifically designed by TRS to help tenants make the correct decisions.

Services


Transaction Management Construction ProbitySelecting the most suitable properties for your business and the negotiation of lease costs, terms and conditions to a successfully executed lease agreement in your favour.

New leases Lease renewals and surrendersSubleasing and assignments Market reviews

Whether you wish to remain within your existing premises or relocate to new premises, TRS guides you through:

How much space you require Identifying locations and property needs Incentive strategies Property searches through ALL landlords and agents Collation of financial proposals and counter-proposals Short-listing and inspections OPEX / CAPEX appraisals Negotiations to final lease execution Make-good negotiations

TRS applies proprietary software models including OPEX©® and OPEXSpace©® to help tenants define their financial and area requirements.

Selecting the most suitable design and construction teams under open market tender and the negotiation of costs, contracts and coordination of all parties to the successful completion of your new fit-out.

Whether you wish to re-plan your existing layout or fit-out new premises, TRS guides you through:

Project timeframes Estimated budgets and Quantity SurveyingOpen market selection of contractors and consultants Negotiations of costs and contracts Building Services ReportsOrdering schedules Risk control Auditing of progress claims Managing all contract team meetings Obtaining all certification Defects management

Tenant Help

Economic OutlookAs Europe, the US and Japan continue to struggle with mounting debts and slow recovery, China’s continuing investment in infrastructure and resources is good news for the Australian economy in 2010 and 2011.

In 2009 TRS experienced: 60% increase in lease transaction negotiations and 35% decline in office fit out activities

Tenants opted to bargain hunt and took advantage of high market incentives opting either to remain in their existing premises or relocate to vacant fitted premises.

Vacancy levels throughout Australia’s CBDs and peripheral locations represent approximately 9.0% of total supply. Take up is low and these indicators are spearheading an aggressive Tenant’s Market

Negotiation Improvements

Mark McGrath MRICSManaging Director

Tenant Representation Services


2010 and 2011 will continue as a Tenant’s Market. A wide range of opportunities exist for tenants to review their operations and to seek financial reductions coupled with space rationalisation.

High market vacancy and low take-upIncreased negotiation leverage and high incentivesCompetitive fit-out costsLease re-negotiation opportunities

Tenant’s Market Continues….

Throughout 2010 tenants should be aware of the following key improvements in the market:

2010 to 2011 will continue as a Tenant’s MarketIncentives will remain at the highest levels in the marketAcceptance of Insurance BondsIncreased fit out competition in the private sector as the

Government reduce construction stimulus spending in the public sector.

www.tenantrep.com.auFor more information on leases, fit-outs and what Tenant Representation Services can provide please visit our website or call 02 8243 6700.


Red Bull wanted something different to accommodate their growth.

Alexander Creative Park offered two grain silos and an adjoining

warehouse that were converted for commercial office and research space.

Transaction Management: TRS

Agreement to Lease Negotiations: TRS

Fit-Out Contractor: neathdesign

Transaction Management9 Months

Construction Probity4 Months

Red Bull

Building Photo

Reception PhotoOther Photo




Harley-Davidson

Harley-Davidson wanted a new stand-alone property complete with offices and workshops that expressed their

culture and technology.

They chose 1 Sirius Road in Lane Cove.

Transaction Management (Base Building): TRS

Construction Probity (Building and Fit-Out): TRS

Fit-Out Contractor: PHG


Mitsubishi Australia



Mitsubishi sought a cost-effective transaction for their trade and commodity businesses.

They opted for 50 Bridge Street that offered a qualified financial and design solution.


Construction Probity: TRS

Fit-Out Contractor: MPA




Hunt&Hunt Lawyers (Melbourne)

Cost value leasing in an efficient building and the implementation of new design standards were the key

drivers for Hunt&Hunt who relocated to 385 Bourke Street.



Fit-Out Contractor: Built


Hunt&Hunt Lawyers (Sydney)



Restructuring an expanding business into modern office premises with ample car parking and storage.

1 Innovation Place provided all requirements.






Construction Probity3 MonthsWith Partially Fitted Premises

CIT Group

Opted for increased building and design efficiencies with greater flexibility for future expansion.

CIT Group relocated to 141 Walker Street which also offered partially

fitted premises.





JAL


Construction Probity1MonthWith Fully Fitted Premises

The objective was consolidating the business from three levels in their old premises to one level in a new property.

100 Pacific Highway provided all requirements.


Construction Probity: TRS (Existing Fit Out)

Fit-Out Contractor: FDC (Minor Changes)




Pernod Ricard (Orlando Wyndham)

16 Byfield Street in North Ryde was the best option for Pernod Ricard who

wanted to consolidate warehousing and office accommodation within one

facility.





Mortgage Choice



The objective was consolidating the business from three levels in their old premises to one level in a new property.

100 Pacific Highway provided all requirements.



Fit-Out Contractor: FDC




Medtronic

In conjunction with an advanced technical environment offering wet /

dry labs, training facilities and warehousing, 79 Waterloo Road, North

Ryde offered the ideal solution.





Iress Market Technology



Iress in Sydney, Melbourne and Perth required new premises in properties that offered quality services and infrastructure to support an expanding high-tech environment.



Fit-Out Contractor: Blueprint Commercial




Sojitz

Sojitz required a right-sizing solution and opted to relocate to MLC Centre.

TRS provided Construction Probity services and delivered the project under

budget and on-time.


Fit-Out Contractor: Odyssey (Formula Interiors)


Ninemsn



Ninemsn wanted a fresh new environment.

They relocated to Australia Square which provided good quality staff amenities and an efficient open plan environment.







Visa International

Visa’s wanted a design efficient environment with the opportunity to

expand in the future.

They chose 50 Bridge Street under a cost-effective transaction.



Fit-Out Contractor: Elan


Abbott Tout (HWL)



Seeking a consolidated environment offering lower Occupancy Costs were the key drivers for Abbott Tout.

Australia Square proved to be one of the most cost-effective transactions in Sydney.







Tullett Prebon

Tullett Prebon wanted to remain within 60 Margaret Street.

They leased a higher level in the same building with a new advanced dealing floor with high-level technical support.





Quintiles



Quintiles opted for location change to 67 Albert Street, Chatswood.

The premises were to offer good internal staff amenities, efficient floorplates and good access to trains and buses.







Logica

Logica sought a new fresh image within a property that offered good

quality services and staff amenities.

They relocated to 100 Pacific Highway which provided all requirements under

a cost-effective lease.





Andrew West (CMC Markets)



Andrew West wanted to select a property that offered high-end technical back-up combined with good client support and amenities.

123 Pitt Street met all requirements.


Fit-Out Contractor: The Patterson Group




Audrey Page

123 Pitt Street (Angel Place) offered Audrey Page excellent tenant

amenities combined with a high density office fit-out providing

training, canteen and office facilities.





ISS



ISS needed a multi-functional property offering office, warehousing, cleaning facilities to house machinery and suitable trucking access.

They opted for 12 Mars Road in Lane Cove.Transaction Management: TRS




The SG Group occupied smaller premises within Lime Street.

As the business grew they wished to remain in the Lime Street complex

and negotiate for more space.






The SG Group


Addisons Lawyers



Addisons Lawyers sought consolidation from two levels to one level within a new building.

60 Carrington Street provided a one floor solution near good public transport.






Construction Probity1 Month

Stewarts Chartered Accountants

Stewarts wanted to know whether they should stay in 6 Underwood Street or

relocate to alternative premises.

Their existing premises offered the best transaction with a good incentive to assist towards refurbishment works.




ContactTenant Representation ServicesLevel 4, 234 George StreetSydney NSW 2000

PO Box N524, Grosvenor PlaceSydney NSW 1220

Phone 02 8243 6700Fax 02 8243 6777Web www.tenantrep.com.auAbn 17 097 365 930

Mark McGrathManaging DirectorPhone 02 8243 6711Email [email protected]

TRS 2010 Newsletter

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Transcript of TRS 2010 Newsletter