Case Study
316 Adelaide St, Brisbane
AMP Capital / MRL Investments
Client
Brisbane CBD
Location
Leasing
SQM Lease: 2,935sqm
DEALS COMPLETED BY CIQ: Felix Resources Limited, Yancoal Limited, Flight Centre Limited.
Case Study
The Opportunity
In 2016, a long-term anchor tenant of 316 Adelaide Street relocated to a purpose-built headquarters. Seeing this as an opportunity to reset their portfolio, the lessor engaged Trident to develop a strategic plan to revitalise the asset, which they acquired in 2012. At the time, the building had a large number of vacancies and was in need of a refurbishment.
Trident developed an asset management plan and a clear path for moving forward to reposition the building for future leasing opportunities.
In this plan, Trident looked at what was required to refresh the building, mapped out what the ideal tenant looked like and the associated capital expenditure required to put everything in place.
The Results
When the team commenced working with the owners of 316 Adelaide Street, the building was 10% occupied. Within three years, the asset is now 90% occupied and has increased in value by 15%. The implemented changes assisted in attracting a number of well-known brands and multi-national tenants. Trident’s advice ranged from the redesign of the entrance to key ways to uplift the value of the property. Trident also look after the Asset Management, Property Management and Facilities Management of the building.