Today the national cabinet will discuss commercial rental relief. here's what you should be thinking about while this happens...
COVID-19 is more than a health crisis.
The speed has caught everyone off-guard. An already strained economy, suddenly finds itself panicked and grinding to a halt, with companies, small and large, collectively staring into an abyss. For those businesses holding a commercial lease, serious concerns have been raised in the past few days, regarding obligations, provisions and the next step.
So should you speak to your landlord? After today, yes.
Office vacancy rates remain low for Melbourne in the first quarter of 2020, with the key drivers being competitive rents and a great city lifestyle.
The city continues to prepare for future growth with over 600,000 sqm being supplied by 2022. Over 400,000 sqm of this will come to market in 2020. *
The latest data from the Property Council of Australia reveals that, as of January 2020, Melbourne’s vacancy rate is the lowest in the country, with only 3.2%, compared to Sydney, which has a vacancy rate of 3.9%. This makes our city the tightest leasing market in the country.
*This article is based on data from The Property Council Of Australia 2020 Office Market Report
These days most organisations are aware of the role that property plays in supporting their business. However, a common mistake occurs when the choice of properties is presented as the final offer, without flexible solutions to address changing business needs. Many businesses believe that what they see is what they get without properly understanding a property’s potential.
Lessons we’re learning as Independent Property Advisors that keep our job fulfilling
For BRM, our services have always aimed to reach beyond the transaction itself. We put people at the centre of everything we do, from workplace consulting, to project management, workplace design, and in this case, property advisory.
Yes, property is about “closing the deal”, but many are quick to forget that the “deal” involves people, from the people who are making the deal, right down to the people who will be occupying and working in the actual space. For this reason, we see relationships as paramount to commercial property. Without stable and trustworthy relationships, a company facing a change in location, organisational structure or even the layout of its office desks, will encounter great difficulty.
BRM’s design, property and project management team came together to assist law firm Kalus Kenny Intelex in their recent move from the Como Centre to 4 Riverside Quay in Southbank.
BRM’s multidisciplined skills meant that the firm’s entire move from initial property search, right through to the design of the new office and handover of their previous space was overseen by the one property service provider. The result was a smooth transition to a new workplace in a brilliant location, with different corners of the BRM team across every facet of the move. KKI was able to settle in and enjoy freshly designed new offices with peace of mind, knowing that BRM’s property team was taking care of the handover of the previous space.
By Guest Author, Rosalyn Gladwin, Gladwin Legal
It is quite commonly known that Landlords are responsible for costs and maintenance of safety requirements in retail premises in Victoria. This is the case under both the Building Act 1993 (Vic) and the Retail Leases Act 2003 (Vic).
There has been some contention about how the two acts operate, which both apply in the case of retail premises. The main question most landlords ask is: Can such obligations can be contracted out of or passed on to the tenant?
A recent Advisory Opinion in 2015 has helped to clarify the position of the law in regards to these issues. While Advisory Opinions are not legally binding, they are highly persuasive to Tribunals and Courts in hearing such decisions, especially given that there are many cases in support of the conclusions reached.
As a commercial tenant you will face plenty of change. some things, however, are worth keeping the same.
Client: Roads Australia
Project Completion: March 2019
When it comes to commercial property, change is inevitable. Leases will end, companies may grow and other issues, both external and internal, will rear their heads, forcing businesses to adapt and move forward. It goes without saying that stability and trustworthy relationships are paramount during these periods of change.
Having a property advisor who can deliver a relocation project and fitout after years of guiding its client through various changes is uncommon, but BRM Projects provided this exact service to its client, Roads Australia ,and the results speak for themselves.
Discover how over 10 years of advice and project delivery from the same commercial property provider helped Roads Australia through some challenging periods…
We love working on new projects with our existing clients. Optalert, is an exciting client, who has developed a technology that acts as an early warning drowsiness detection system. As its technology has grown and the company itself is increasingly becoming trusted by major global companies, its needs are changing, especially in the workplace itself and the property it occupies.
From our early property advisory work with the then new CEO Scott Coles in 2014, to the fitout of Optalert’s new offices that same year, BRM Projects has continued to act as Optalert’s trusted property partner throughout all of the its changes over the past few years.
Here is a preview of just some of the work BRM Projects has carried out for this fascinating company:
The world of commercial leasing can be tricky. Many businesses fall into the trap of becoming comfortable with their lease, not realising that it could pose serious limitations for them. Underestimating the importance of your commercial lease could be detrimental, while evaluating it with the help of a commercial property expert could actually add value to your business and set it up for a more stable future.
At BRM Projects, we see the following factors as central points of consideration when signing a new commercial lease or reviewing your current lease.
Client: Kennedy Partners
Location: Melbourne, CBD
This family law firm, based in Melbourne, had been practicing from the same premises for 25 years. When Kennedy Partners decided to employ the Property Strategy services of BRM Projects in late 2016, it was facing a ‘Stay or Go’ decision.
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