Charter Keck Cramer is Australia’s leading independent property advisory firm. Our multi-disciplinary capability draws upon the skill and experience of industry leading specialists across Advisory, Research, Valuations, Projects and Capital services. This unique approach enables Charter to provide its diverse range of Clients with market leading Property Intelligence.
Negotiating a lease for commercial premises requires a specific skill set. Charter’s Accommodation Solutions Group is dedicated to this specific service to ensure clients secure the best possible accommodation at the most competitive terms.
Golder Associates is an employee-owned, global organization providing consulting, design and construction services in specialist areas of earth, environment, and energy through technical excellence, innovative solutions and award-winning client service. Today, its clients represent the world’s major industries and drivers of development: Oil and Gas, Mining, Manufacturing, Power and Infrastructure. Employee owned since being founded in 1960, they have more than 6,500 people operating from 165 offices worldwide delivering deep technical understanding, cross-disciplinary thinking and a passion to help clients succeed.
Charter was engaged by Golder Associates to undertake Property Advisory Services in relation to its Sydney leasehold accommodation. At the date of Charter’s engagement, Golder occupied 2,120 sq. m. of C Grade office space in St Leonards, NSW. The office was a ten-minute walk from St Leonards train station, but the immediate location offered little in terms of amenity for Golder staff and visitors. Noting there would have been significant capital investment required for Golder to recommit at its current premises, Charter was engaged to assess the St Leonards’ tenancy, identify alternate options for Golder and undertake a detailed “stay vs. go” analysis. The outcome of Charter’s strategic advice was that a relocation would be more cost effective and less disruptive for the business. Over the course of the engagement, Charter undertook the following scope of works:
- Facilitated discussions with the Landlord and analysed initial “stay vs go” options in relation to the broader market
- Provided a market overview of the relevant property markets
- Facilitated discussions with key Golder stakeholders in order to establish ideal office quality, size, and location
- Developed and distributed market space brief in line with operational and functional requirements
- Presented an initial Expressions of Interest Options Report with 30 potential options, including high level financial analysis, to Golder stakeholders
- Facilitated property evaluation and shortlisting
- Undertook financial due diligence including Present Value financial analysis
- Negotiated key commercial terms by way of Heads of Agreement on preferred property options
- Liaised with Golder solicitor in reviewing full lease documentation and obtained executed Lease for an area of 1,688 sq. m. at Level 8, 40 Mount Street, North Sydney
Through this engagement, Charter successfully advised Golder during the property procurement process through to relocation to 40 Mount Street, North Sydney, NSW in June 2019. The office is located in the heart of North Sydney, 400 meters from the train station and amongst the suburb’s vast offering of retail and services. The building boasts new End of Trip facilities, bike storage and an on-site café. Golder has increased its space utilisation, effectively reducing its footprint by circa 400 sq. m. It is anticipated that the new office location, coupled with refreshed fit out and an A-Grade building amenities will assist the firm in attracting and retaining talent whilst positioning the business closer to its key clients.
As part of the accommodation strategy and in addition to Golder’s office relocation, the Charter team was engaged to secured storage / warehouse facility in close proximity to the new office.
Please contact Adam Puddy or Samantha McGrail for more information.