MRS Property’s Advisory and Consultancy division continues to be involved in a wide variety of commercial property engagements for a vast array of clients.
Some recent examples of work undertaken include:
MRS were engaged by HAMBS, a provider of software and technology solutions to the private health insurance industry, to assist them to source accommodation options as alternatives to their present location at Payneham Road, Marden.
An extensive search through the inner suburbs, Fringe and CBD revealed in excess of 80 possible building options. MRS worked with HAMBS to create a matrix of key accommodation criteria to develop a short list of options. After a thorough review the former Bendigo & Adelaide Bank property at 169 Pirie Street was chosen as the preferred option and negotiations commenced with the owners, the Australasian Property Group, which resulted in the conclusion of terms for a ten (10) year lease over Level 4.
HAMBS secured cost savings via the integration of its fitout with the Lessors upgrading works, and also through receipt of a substantial contribution towards its specific fitout costs.
MRS were initially retained to provide advice on lease versus buy strategies for this Adelaide based ASX listed technology company. The result of this work was the disposal of two industrial properties at Torrensville, acquired as a result of a company merger, which were surplus to requirements. CBRE were engaged to market the properties for sale with MRS overseeing the disposal process on Codan’s behalf.
Whilst the Torrensville disposals were underway, MRS also assisted Codan with the lease negotiations to secure a new Head Office and hi-tech manufacturing accommodation at Mawson Lakes. The outcome of these negotiations saw Codan commit to fully refurbished accommodation at 2 Second Avenue, Mawson Lakes for a fifteen (15) year term and included the securing of the Landlord’s agreement to undertake works which brought the building to an “as new” standard and included the provision of a state of the art fitout, together with space for expansion which will allow Codan to continue to grow its business without the need to secure additional accommodation for many years.
MRS have also undertaken an options study on potential alternative uses for Codan’s former premises, on approximately two (2) hectares of land, at Graves Street, Newton. CBRE were subsequently appointed to market the land and buildings as a single parcel or as sub-divided allotments.
MRS were engaged by Data Action, an Adelaide based technology services company, to assist them to source accommodation options in the Adelaide CBD.
MRS worked with Data Action to create a matrix of key accommodation criteria to develop a short list of options which were subsequently inspected. MRS requested leasing proposals on the final shortlist and provided commercial advice and financial analysis on each proposal.
After a thorough review, 55 Currie Street was chosen as the preferred option and extensive negotiations resulted in a commercially attractive 10 year lease over the whole of Level 3 (2,300m2 approximately).
MRS also provided assistance to Data Action in negotiating a cash settlement in lieu of tenancy reinstatement at their existing premises on South Terrace.