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Case Study Office Leasing: Brisbane

HeroImage1536x1040TransportHouse Custom

Transport House, 230 Brunswick Street, Fortitude Valley

Challenge

The Colliers Brisbane Office Leasing team was contacted by Endeavour College to find a new Brisbane headquarters for the education provider. Throughout the initial negotiation process, Endeavour College underwent a change of its parent company which ultimately put the requirements on hold while new executive management changed the direction of the business. 

Simultaneously, the COVID-19 pandemic struck Australia, significantly impacting the education sector which is highly exposed to border closures and changes in Government legislation. As a result, the tenant received several unsolicited offers of high quality options that were well suited for an education provider due to the number of colleges that closed following border restrictions.

Strategy

  • Colliers implemented a delicate balance of giving the tenant space and knowing when to re-engage when the timing was right.
  • The tenant appreciated the approach and the strong rapport Colliers built with the tenant was unwavering once the various hurdles emerged.
  • Colliers were proactive on the building services front assisting the tenant with all the mechanical information and certification requirements they needed. This removed a lot of doubt or concern whether the college could create their desired campus at the location.

Result

  • Brisbane Metro Office Leasing expert, Shane Van Beest successfully leased a significant portion of the total building NLA (approx. 30%) to Endeavour College on a 10-year lease on strong market terms (40% incentive).
  • This deal brought the asset to almost 85% leased and was also in the low-rise, arguably the most difficult floors to lease.
  • Our team invested in relationships and our strong expertise in the Brisbane market to deliver a favourable outcome for our client.
Testimonial

“We are thrilled to be welcoming Endeavour College to Transport House and wish to congratulate Shane Van Beest on his tireless work to secure this transaction. His resilience, tenacity and understanding of what was important to both parties meant he was able to navigate not only a full company restructure for the Lessee but also a global pandemic, which is no easy feat. Shane was proactive, knowledgeable and passionate on Transport House and built strong working relationships with the Lessee and their advisors resulting in an ability to have open discussions about constantly changing business and economic parameters to ultimately find a successful outcome.”

Emily Wills
Asset Manager
LaSalle Investment Management


Related Experts

Shane Van Beest

National Director

Office Leasing

Brisbane CBD

View expert