Bluestone - Levels 19 & 20, 321 Kent Street, Sydney
Bluestone occupied approximately 3,000m2 over levels 19 & 20, 321 Kent Street, Sydney as their corporate head office.
They had previously sub-leased approximately 2,200m2 and their sub-tenant had decided to vacate the premises, leaving them with a large vacancy in a deteriorating leasing market.
After competing against its major competitors, Cushman & Wakefield was appointed by Bluestone as their exclusive agent to lease the premises in a difficult market, made all the more difficult by the short lease term remaining.
Cushman & Wakefield developed a leasing strategy to fit in with Bluestone's initiatives and constraints of being able to offer the premises with a limited lease term.
After a rigorous leasing campaign, Cushman & Wakefield was able to offer a solution by uncovering Energy Australia (Government utility), who successfully leased the premises which met with Bluestone's rental expectations and a nominal incentive was negotiated.
Bluestone's rental expectations were exceeded and the incoming tenant commenced the lease almost immediately after the previous tenant vacated, further mitigating Bluestone's exposure. Keys To Success - Developed a strategy in line with client's needs - Undertook detailed analysis of the market