We partner with our clients by providing advice on new developments and refurbishment projects, major projects, re-positioning of assets, government pre-commitments, sustainability, commercial trends, tenant decision-drivers combined with innovative marketing to lease your vacant space in the shortest possible time while achieving the best possible terms.
OUR SOLUTIONS
Project Leasing
CBD Specialist Leasing
Large Format Retail Leasing
Financial Planning, Legal Instruction
GAP Analysis & Global Network
Centre Remixing Master Planning
CASE STUDIES
Marina Square, NSW
Challenges
• Colliers was engaged by Billbergia in 2015 to identify and secure mini major anchor tenants with a projected mid 2018 practical completion date as a catalyst for the leasing campaign.
• A retailer’s ability to pay rent is a function of their trading potential and with the initial low residential catchment numbers, Colliers was challenged with securing quality tenants based on forecasted population numbers only.
Strategy
• The strategy to counter the issue of competing larger and more established shopping centres and precincts was to identify and implement a complimentary retailer mix and to focus on the centre’s point of difference.
• The type of shopper for Rhodes Waterside, i.e. entertainment, cinemas, furniture, etc is a different type of shopper for Marina Square, i.e. non discretionary spend, restaurants and service based.
The Result
• To date, we leased over 95% of the centre, all above the rental budget and well below incentive budget, prior to opening.
• The fact that Colliers was engaged early in the planning process to masterplan and to determine a sustainable retailer mix was instrumental in the current success.
Riverside Quay, VIC
Challenges
• Brand new precinct with no existing retailers
• Convincing retailers to come to precinct with no track record
• Ensuring a strong mix of complimentary retailers
• Laneway exposure limited
Opportunities
• Increasing surrounding population
• Government supported development of Southbank
The Result
• Amenity for workers
• Strong trading precinct
• Ongoing work with landlord
• Iconic Melbourne operators secured
Post Office Square, QLD
Challenges
With the office vacancy rate pushing 20% in the CBD and softening retail spending many of the retailers in the centre fell over. New owners now had higher than market face rentals and the dilemma of repositioning the centre after refurbishment. Along with tenant fall overs many of the well-established retailers faced large decreases in turn over. Colliers CBD retail team was given the task of leasing the centre. Our challenge was to encourage interest in the centre and to review the current mix for sustainability now and into the future.
Strategy
Post Office Square has one of the busiest foot fall of any food hall in the city, however being 5-day trading and largely from 11 to 2 pm, the tenant only has 15 hours a week to succeed. We reviewed the highest and best usage strategy, seeking operators who had the ability to trade on a volumetric level to maximise the tight trading window. The second part of the strategy was to work with the current encumbered tenants to assist in either remodelling their business or replacing them. Another clear factor to the downturn was the lack of new concepts in the centre, with many tenants having been in POS for over 10 years and not giving customers any variety over the years. Colliers conducted a gap analysis along with a highest and best use strategy to put forward recommendations to the client about the most effective retail usages.
The Result
Colliers was able to back fill all vacancies from retailer fall overs and lease the vacancies that had been on the market for over two years. While introducing exciting new food retailers such as Korean Bibimpap and express udon noodles, both firsts for the Brisbane market.
RETAIL LEASING
We partner with our clients by providing advice on new developments and refurbishment projects, major projects, re-positioning of assets, government pre-commitments, sustainability, commercial trends, tenant decision-drivers combined with innovative marketing to lease your vacant space in the shortest possible time while achieving the best possible terms.
OUR SOLUTIONS
Project Leasing
CBD Specialist Leasing
Large Format Retail Leasing
Financial Planning, Legal Instruction
GAP Analysis & Global Network
Centre Remixing Master Planning
CASE STUDIES
Marina Square, NSW
Challenges
• Colliers was engaged by Billbergia in 2015 to identify and secure mini major anchor tenants with a projected mid 2018 practical completion date as a catalyst for the leasing campaign.
• A retailer’s ability to pay rent is a function of their trading potential and with the initial low residential catchment numbers, Colliers was challenged with securing quality tenants based on forecasted population numbers only.
Strategy
• The strategy to counter the issue of competing larger and more established shopping centres and precincts was to identify and implement a complimentary retailer mix and to focus on the centre’s point of difference.
• The type of shopper for Rhodes Waterside, i.e. entertainment, cinemas, furniture, etc is a different type of shopper for Marina Square, i.e. non discretionary spend, restaurants and service based.
The Result
• To date, we leased over 95% of the centre, all above the rental budget and well below incentive budget, prior to opening.
• The fact that Colliers was engaged early in the planning process to masterplan and to determine a sustainable retailer mix was instrumental in the current success.
Riverside Quay, VIC
Challenges
• Brand new precinct with no existing retailers
• Convincing retailers to come to precinct with no track record
• Ensuring a strong mix of complimentary retailers
• Laneway exposure limited
Opportunities
• Increasing surrounding population
• Government supported development of Southbank
The Result
• Amenity for workers
• Strong trading precinct
• Ongoing work with landlord
• Iconic Melbourne operators secured
Post Office Square, QLD
Challenges
With the office vacancy rate pushing 20% in the CBD and softening retail spending many of the retailers in the centre fell over. New owners now had higher than market face rentals and the dilemma of repositioning the centre after refurbishment. Along with tenant fall overs many of the well-established retailers faced large decreases in turn over. Colliers CBD retail team was given the task of leasing the centre. Our challenge was to encourage interest in the centre and to review the current mix for sustainability now and into the future.
Strategy
Post Office Square has one of the busiest foot fall of any food hall in the city, however being 5-day trading and largely from 11 to 2 pm, the tenant only has 15 hours a week to succeed. We reviewed the highest and best usage strategy, seeking operators who had the ability to trade on a volumetric level to maximise the tight trading window. The second part of the strategy was to work with the current encumbered tenants to assist in either remodelling their business or replacing them. Another clear factor to the downturn was the lack of new concepts in the centre, with many tenants having been in POS for over 10 years and not giving customers any variety over the years. Colliers conducted a gap analysis along with a highest and best use strategy to put forward recommendations to the client about the most effective retail usages.
The Result
Colliers was able to back fill all vacancies from retailer fall overs and lease the vacancies that had been on the market for over two years. While introducing exciting new food retailers such as Korean Bibimpap and express udon noodles, both firsts for the Brisbane market.