A New Repertoire to Reposition
As we enter a new year, our teams are reflecting on our recent partnerships with forward-thinking landlords across Australia and New Zealand in regeneration and repositioning projects.?In today's commercial property landscape, there is a notable shift towards increasing tenant demands for elevated and premium experiences.
Our recent feature in The Urban Developer explores strategies that landlords are and should adopt to meet these needs, including the creation of micro cities within assets, fostering vibrant café cultures, and designing office precincts with amenities tailored to modern tenants.?Cachet have successfully completed Design and Construct projects such as speculative suites, end-of-trip facility upgrades, lobby refurbishments, and more, all aimed at elevating tenant experiences and enhancing the overall value of our landlord clients' commercial portfolios.
To further support our commercial landlord partners, we’re continuing to refine our 3DXP services. This technology allows us to provide realistic 3D tours of vacant spaces to prospective tenants before any construction or investment takes place, strengthening leasing efforts and generating tenant interest.
On the tenant front, it's been invigorating to continue collaborating with incredible brands, new and old, like Colgate , CMA, Zurich, MYOB, Mable, and more, as they return from the holiday period to refreshed workspaces designed to support their brand and people.
As I conclude this issue, I want to extend a heartfelt thank you for your ongoing support this past quarter. We look forward to continuing our partnerships as we move into the next quarter and beyond.
Until then, take care.?
Mark Turek | Cachet Group
Project Spotlight | An Elemental Experience
Inspired by the elements - earth, fire, water, yin and yang, our latest speculative suite project at 205Q, Auckland?was a visionary concept spearheaded by Roxy-Pacific.
This innovative and daring concept, by Roxy-Pacific, laid the foundation for a project that would captivate the market and introduce premium speculative suites to the iconic two-tower landmark - 205Q.
Designed?& Constructed Cachet Group, each of the six distinctive spec suite was?meticulously crafted to embody its respective element, with a distinctive colour palette setting the tone. From the warm hues of orange and ash in the fire suite to the serene blues of water in the blue suites, every detail was thoughtfully curated to create a truly extraordinary offering to their tenants.
As a testament to the project's success, one of six suites had been leased on completion, with the ‘yang’ suite nearing finalisation of its leasing process.
Check out the full suites on our website here .
In just one sentence, tell us?about your role and focus at Roxy-Pacific.
As Asset Manager for the Australia/New Zealand?business, I am responsible for the strategic direction and proactive management of the company’s Australian and New Zealand commercial office portfolio.?
领英推荐
205 Queen Street has undergone an incredible transformation over the last two years (pictured below). Can you tell us the driving forces behind wanting to reposition this asset???
Situated on a unique whole-city-block site on a prominent CBD corner, the building was once the “centre of the universe” in Midtown Auckland, and has fantastic bones. After facing some challenges in recent years, this area of Auckland CBD appears set to make a serious comeback, so what better time to give the asset the attention and investment it had needed?
I believe 205 Queen has so much unrealised potential, so we are looking forward to bringing it into the next phase of its life and realising that potential as Midtown reemerges. There are several other exciting projects in the pipeline over the next few years as well as our focus lies here.?
How would you measure the success of a commercial asset regeneration project???
Tenant feedback is always a great starting point! Usage data for new or upgraded facilities such as End of Trip, tenant lounges, wellness hubs?and the like, provide a landlord with valuable evidence on whether what they have implemented has worked or not. And while we are in the business of ensuring sitting tenants are satisfied, it’s also great to see decreased let-ups periods and lower vacancy rates as a result of a repositioned asset being more attractive to newcomers! And of course, feedback from the market, whether it comes organically or by way of awards / increased sustainability credentials.??
Are there any latest trends in the property landscape that landlords should consider in asset regeneration projects?
With ESG being an ever more central focus of many businesses, over the years I’ve noticed increasing attention on sustainability credentials from tenants, certainly from many of the larger global organisations. If a regeneration project incorporating services works can provide an uplift to these credentials, that certainly can assist in both retaining and attracting those high-quality tenants. We are currently investigating the feasibility of an exciting new option in this regard for 205 Queen St.??
What are some common challenges you've encountered during the process of asset regeneration, and how have you overcome them?
I’ve worked on a few of these projects throughout my career, and have found that heritage considerations, design consistency across the asset, and dealing with latent conditions are the most common challenges. In addition, it’s vital to ensure that the good work you do does not come at the cost of quiet enjoyment of the asset’s current tenants. It’s been fantastic to work with Cachet on projects like the “Elements” suites, where all of this is taken care of by the team – one less thing for me to worry about in my day!??
How do you see the future of commercial asset regeneration evolving, and what opportunities do you anticipate??
I believe the industry will continue to innovate. Decarbonisation is certainly a big ticket item, and there will be a lot of change to come out of this for commercial assets in the coming years and decades. We’ve seen creation of third spaces such as tenant collab areas and lounges, spaces for wellness initiatives, and the like - I don’t see this going away anytime soon. And as people live busier and busier lives, I believe that efficiency and the “customer experience” will be at the heart of these projects, and think that AI likely has a large role to play here. It’s exciting to think of what the future may hold!
In case you missed it | Recapturing Appeal to the Workplace - The Urban Developer Feature
Gone are the days of standing around the water cooler, instead forward-thinking landlords are embracing innovative strategies to ‘earn the commute’ of their tenants.
In the latest article of The Urban Developer, we sit down and talk about how we are working with landlords to reimagine offices and assets to draw workers back.?“What we are seeing in the market is the question on how can employers earn the commute—because ultimately decreased office space usage negatively impacts not only the organisation but the landlord themselves.”
In case you missed it, read the full article here.
Thank you for tuning into this issue of The Cachet Collective. We hope you enjoyed reading, and continue to connect with us for future issues.