The perfect
backfill campaign
10 Shelley Street is an A Grade asset which very large rectilinear floorplates, excellent Darling Harbour views and prominent signage rights. Located at the northern end of the King Street Wharf precinct, the location was for many years seen as fairly isolated in the western corridor. But then came along the game changers of Barangaroo and the Wynyard Walk directly opposite.
Upon the decision by KPMG to move to Barangaroo, Brookfield and then joint owner Colonial were faced with a 100% vacancy emerging in 2016. Cadigal were selected as the sole leasing agent and immediately focussed on a re-positioning and marketing program to attract a new major tenant. A thorough tenant target list was analysed and it was apparent from the outset that Suncorp was one of only a handful of suitable majors who could be secured, without taking on significant lease tail exposures.
After a 2 ½ year engagement period, Suncorp pre-committed to 85% (24,000sqm) of the refurbished building representing a truly outstanding outcome for Brookfield with no downtime outside of the refurbishment period. Leading technology firm Iress then committed to the balance of the building (3,500sqm) again ahead of the refurbishment’s completion.
- Client(s)Brookfield
- Total Leased Area 27,800sqm
- Cadigal Agents Mark Tindale and Peter Ferguson
- Agency Type and Period Sole Agency, 2013-2016