LEASED: 80 William Street, East Sydney

LEASING SUCCESS – Terrace Tower, 80 William Street, East Sydney

Terrace Tower Group engaged Karbon Property to review their asset generally and provide solutions for remaining vacancies and forecasted rents. After considering our recommendations, TTG adopted – a three-phase approach, which involved:
– Upgrades to marketing for a more consistent branding message
– Delivering a best-in-the-city fringe spec-fit suite (which has now been rolled out across other tenancies)
– An upgraded vision of the lobby/retail offerings.
Also, a renewed leasing strategy targeted the right tenants and highlighted the upgrades of the asset.

Since our appointment in April 2022, we have completed the following leasing deals:
> Ground Floor Retail (300sqm) – Curatorial & Co Art Gallery
> Suite 5.01, (770sqm) – Teekay Shipping
> Suite 5.03, (162sqm spec-suite) – Sports and Entertainment Limited
> Suite 3.02, (300sqm) – Gro Clinic Australia
> Suite 3.03 (200sqm spec-suite) – Brahman Commodities

Weighted average rents achieved on those spaces are 21% higher than forecast before our appointment. Vacancy in the building is almost completely filled, and Karbon Property is pleased with what we could achieve for our client in under a year.

For more information on this, please get in touch with either Andrew Martin 0424 473 681) or Charles Bowmer (0478 725 182).

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