Macquarie Asset Services
Building Refurbishment / Sydney
Macquarie Asset Services manages the property needs of Macquarie Bank's commercial investment funds. Glasgow Hart have renovated 11 commercial buildings on behalf of these funds since 2005, including 68 Pitt Street, 2 Market Street, 1 Martin Place and 154 Pacific Highway.
After a long term tenant vacated 2 Market Street, the building was left looking tired, worn out and dated. There was much deliberation within the fund on the extent of the required refurbishment and how that could generate interest in a difficult tenancy market.
Glasgow Hart provided full design and documentation to bring the building into the 21st Century by upgrading the finishes, light fittings, services and bathrooms to an appropriate budget. This upgrade has allowed the Fund to quickly obtain new tenants, increase the rental per square metre and therefore increase the commercial value of the building. This increased in value has lead to a significant return for investors.
We also provided marketing packages with optional extras that presented an attractive package for prospective tenants looking to occupy the space.