The Project

Kardos Scanlan’s office was in the southern end of the Sydney CBD in a location that no longer reflected its brand or catered for forecast growth. The business had a lease expiry in mid-2023 that offered an opportunity to relocate in a strong tenant market.

The Challenge

After originally working directly with a leasing broker for 6 months Kardos Scanlan could not locate a suitable property. This time lost resulted in a compressed timeline to run a full strategic process that would guarantee a shortlist of suitable premises options.

The Outcome

Secured new 7-year lease over a full floor of repositioned prominent A-grade Martin Place address. The new office location is a perfect match with Kardos Scanlan’s brand and provides room for growth at an address that is close to the courts and in one of Sydney’s most connected locations.

Scope of Appointment

Reporting to the Managing Partners, Steele Consulting was appointed to assist Kardos Scanlan relocate to a new office that was more in line with their corporate identity and attract quality
staff in a new central CBD location.

• Determine company growth requirements and budget to create property brief
• Model preliminary financial scenarios to inform a streamlined market approach and fine tune reverse brief to market
• Detailed market research and analysis to determine both off-market and on-market opportunities that can work in with the brief
• Produce shortlist of suitable options and complete detailed occupancy cost scenario analysis
• Negotiate with final three shortlisted options and run final occupancy cost modelling for selected premises
• Assist property lawyer to finalise lease terms and certify for execution