Head office colocation –2022

The problem

Relocating from cheaper suburban locations into the Sydney CBD was expected to result in significant additional costs. 

Strata Choice engaged Counsel to secure approximately 1,200 sqm of high quality, A or B grade office with the Sydney CBD while minimising the financial impact on the business. 

Our initial high-level analysis showed that the optimum solution for our client would likely be located in the western corridor of the Sydney CBD with an average monthly cost per head of approximately $1,540. 

Our approach

Counsel conducted an open market search which identified over 80 options in over 50 different buildings. Counsel recommended a shortlist of 6 options for inspection and detailed due diligence. This was later reduced to 3 options for detailed negotiations while maintaining competitive tension. 

We used our propriety comparative financial analysis model throughout the negotiations allowing us to report back to our client on progress in real-time.

Our value add

After managing a process that maintained optimum competitive tension throughout, Counsel negotiated a lease over level 13, 25 Martin Place, a Premium grade office building on behalf of Strata Choice. The lease included a high quality existing fitout plus a significant incentive package. 

The financial outcome was approximately 20.5% better than the initial high-level analysis, saving Strata Choice approximately $3.2 million over 7 years.