State Water Corporation

Level 10, 55 Clarence Street, Sydney NSW

Scope: 870 sqm
Service: Tenant Representation and Project Coordination

Challenge

  • Identify and secure new premises following client’s desire to consolidate their Parramatta and Sydney CBD locations into one Sydney CBD location
  • Project coordination to fit out the premises and carry out the relocation within an agreed budget and project plan
  • Negotiated an early lease surrender of the client’s premises in Parramatta

Action

  • Conducted discussions with the existing Lessor
  • Negotiation of early lease exit and make good obligations of existing premises in Parramatta
  • Researched the market thoroughly and presented the client with all relevant information regarding the available options including detailed financial and non-financial analysis
  • Coordination of a communication consultant to engage staff via a survey and consultation groups
  • Negotiation of the commercial terms and conditions with the Lessor
  • Project coordinated the fit-out tendering, design and construction of the premises
  • Coordinated the relocation from Parramatta to the new premises

Result

  • Securing of new office space within the set financial parameters combined with occupancy costs less than their previous premises
  • Successful transition into new premises within an agreed budget and project plan
  • Considerable financial and time savings generated following a cash settlement of the client’s early lease surrender and make good obligations at their Parramatta premises