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Case Study Office Leasing: Canberra

HeroImage1536x104012Moore Custom

12 Moore Street, Canberra

Challenge

Appointed to lease 12 Moore Street at the beginning of 2021 aware that approx. 60% of the property would become vacant in the second quarter of the year.

Strategy

  • A matrix was presented to AMP Capital as part of Colliers initial proposal showcasing our experts in each asset class. This provided the client comfort knowing that they would be aligning themselves with industry leaders able to deliver a fully integrated office asset class approach at 12 Moore Street.
  • Colliers recognized the challenges and significant vacancy of 6,000m2 emerging. Foreseeing the opportunities in other business lines we identified how each service line added specialist expertise and capability, providing AMP Capital with a single source solution.
  • Following the appointment of the project, an interstate workshop was undertaken across two days where all experts at AMP Capital and Colliers strategized on how to best reposition and rebrand the building in the Canberra market.
  • This repositioning strategy commenced immediately, and our leasing experts provided clear guidance on market conditions and expectations with a targeted leasing campaign.

12 Moore Street Canberra City 5 1 

Result

  • Maximized the potential of this property by leveraging the collaborative expertise of our Real Estate Management Services, Project Leaders and Office Leasing experts in a combined office asset class approach.
  • Significant building refurbishments have been undertaken by our Project Leaders on behalf of AMP Capital, in result of the new tenancies within 12 Moore Street following the appointment of the Office Leasing team.
  • More than 50% of the building was leased within two months of the previous tenant vacating.
  • Final stages of the building repositioning are currently underway and expected to be finalised over the next few months.
Testimonial

“I’m so proud of the progress we’ve made delivering on our repositioning strategy for 12 Moore Street since the start of last year. Thanks to Aaron Bruce and Caleb Brinton from Colliers Leasing who have worked with us to deliver a successful leasing campaign which has now seen more than 50% of the asset leased within the last few months. We look forward to delivering the final stages of the repositioning works over the next few months and welcoming our new customers to the asset.”

Henry Parker
Senior Property Manager | Office & Logistics
AMP Capital

12 Moore Street Canberra City 612 Moore Street Canberra City 8


Related Experts

Aaron Bruce

Director | Office Leasing

Canberra

Aaron specialises in the leasing of office and retail space in the Canberra CBD, City Fringe, Parliamentary Triangle and key Town Centres in  focusing on areas greater than 500sqm.

Aaron has a strong focus on providing service excellence and commitment to delivering results which has seen a  consistent delivery over and above client expectations throughout his career so far.

Aaron prides himself on having a sound understanding of the Canberra commercial property market which has enabled him to provide sound advice to landlords and tenants and stay ahead of market trends.

Aarons areas of expertise includes:

  • Comprehensive campaign management via end to end leasing solutions
  • Tenant identification
  • Lease negotiation, sound knowledge of rental rates and leasing market conditions
  • Research and market analysis
  • Transactional management and reporting
  • Identifying accommodation solution
View expert

Caleb Brinton

Manager | Office Leasing

Canberra

I am a Manager within the Office Leasing team at Colliers Canberra. In my role I represent a range of institutional and private landlords, specialising across the Canberra CBD and Parliamentary Precinct.

I am experienced in the full spectrum of the leasing process, from pitching, to campaign management, and commercial negotiations. Outside of office leasing, I have experience in both industrial and retail leasing.

I have facilitated numerous transactions across the full range of office occupiers, including boutique private sector occupiers, blue chip international companies, and significant Commonwealth Government tenancies (including pre-commitment leasing).

I’m excited to be joining the API ACT YPP as a committee member in 2022.

View expert