AAT is a government body that conducts independent reviews of administrative decisions made under Commonwealth Laws. On 1st of July 2015, the Migration Review Tribunal, Refugee Review Tribunal and Social Security Appeals Tribunal merged with the AAT.
With the merger of four separate bodies into the AAT, PCG was engaged as the national tenant representative to review the current leasehold commitments, assess future requirements for the newly merged body, and locate a suitable property, where they could successfully relocate the various individual tribunals within consolidated premises.
In Melbourne, the combined bodies required over 7,000m2. As a government department, there were several strict search criteria for PCG to seek out, in ensuring a successful relocation, including:
- Central CBD location
- Proximity to public transport
- A-Grade Building
- Floor plates that permitted the creation of spaces, facilitating the dense fit-out requirements, including a high number of hearing and private meeting rooms
- A building that could offer the level of security required for the functionality of the AAT
PCG's knowledge of the market allowed for the identification of several suitable options for review, which were inspected with key stakeholders and representatives from the AAT. Negotiations commenced on multiple properties, with PCG establishing competitive tension across the marketplace, further leveraging the strength of Commonwealth lease covenant. Whilst negotiations were underway, PCG concurrently facilitated thorough pre-lease due diligence to assist with the decision-making process and identify the building that could best accommodate their requirements. Thus, 15 William Street, Melbourne CBD was highlighted as the preferred property, providing large efficient floor plates of over 2,000m2, whilst also providing exceptional base building services to tenants.
|TOTAL NET LETTABLE AREA||7,183m2|
Strategic Advisory, Tenant Representation, Pre-Lease Due Diligence, Lease Negotiations