12 Moore Street, Canberra
Challenge
Appointed to lease 12 Moore Street at the beginning of 2021 aware that approx. 60% of the property would become vacant in the second quarter of the year.
Strategy
- A matrix was presented to AMP Capital as part of Colliers initial proposal showcasing our experts in each asset class. This provided the client comfort knowing that they would be aligning themselves with industry leaders able to deliver a fully integrated office asset class approach at 12 Moore Street.
- Colliers recognized the challenges and significant vacancy of 6,000m2 emerging. Foreseeing the opportunities in other business lines we identified how each service line added specialist expertise and capability, providing AMP Capital with a single source solution.
- Following the appointment of the project, an interstate workshop was undertaken across two days where all experts at AMP Capital and Colliers strategized on how to best reposition and rebrand the building in the Canberra market.
- This repositioning strategy commenced immediately, and our leasing experts provided clear guidance on market conditions and expectations with a targeted leasing campaign.
Result
- Maximized the potential of this property by leveraging the collaborative expertise of our Real Estate Management Services, Project Leaders and Office Leasing experts in a combined office asset class approach.
- Significant building refurbishments have been undertaken by our Project Leaders on behalf of AMP Capital, in result of the new tenancies within 12 Moore Street following the appointment of the Office Leasing team.
- More than 50% of the building was leased within two months of the previous tenant vacating.
- Final stages of the building repositioning are currently underway and expected to be finalised over the next few months.
Testimonial
“I’m so proud of the progress we’ve made delivering on our repositioning strategy for 12 Moore Street since the start of last year. Thanks to Aaron Bruce and Caleb Brinton from Colliers Leasing who have worked with us to deliver a successful leasing campaign which has now seen more than 50% of the asset leased within the last few months. We look forward to delivering the final stages of the repositioning works over the next few months and welcoming our new customers to the asset.”
Henry Parker
Senior Property Manager | Office & Logistics
AMP Capital
