111 Elizabeth Street

Christian Minards is a Director of Commercial Office Leasing in Sydney and he recently worked with Wardell Chambers to secure their new office space. We delved deeper into the deal with Christian, and into the role he played in representing his client’s building as well as finding the right fit for the new tenant. 

Who is the new tenant at 111 Elizabeth?
The new tenant is Wardell Chambers, a barristers' chambers. They were formerly known as 16 Wardell Chambers as there were located on level 16, 39 Martin Place, Sydney, where they had been since 1977.

What was their brief to you?
Due to the resumption of their building, 39 Martin Place, by Department of Transport to make way for the new Sydney Metro Line Martin Place, their brief was that they need to be close to the Supreme Court, no further than two blocks away, all senior members needed an outlook and excellent natural light. The new building had to be of the same grade or better than 39 Martin Pace and still deliver the best market deal possible. 

How did you add value in their search?
I knew 39 Martin Place (along with several other buildings) was earmarked for demolition, so I made contact with Wardell Chambers and liaised with the Clerk of Chambers. 

This was the start of a relationship where I was able to provide them with knowledge of suitable available options for their consideration, while gaining their trust to virtually be their ‘preferred agent’ who will introduce Wardell Chambers to these options in the market. With my extensive market knowledge and understanding that barristers chambers have very particular requirements and also understanding that barristers chambers are basically run as a cooperative, I was able to show Wardell Chambers the right building in the right location with the commercial terms structured the right way for both this tenant and my building owner client.

Why does 111 Elizabeth tick the boxes for this client?
St James Centre, at 111 Elizabeth Street, Sydney, ticked all the boxes for Wardell Chambers as the location is directly across the road from the courts and provided a 750 square metre floor plate which allows them to occupy the entire floor. 

Level 10 has an excellent outlook over the courts and Hyde Park looking east through to the best harbour in the world. Also the commercial terms were agreeable.

How does working with an agent like yourself add value to the client?
Being of assistance to tenants that need new office accommodation want to know they are dealing with an agent who has excellent market knowledge around suitable available options and can manage expectations with skillful and effective communication. these attributes allow for much more smoother transactions for both tenant and landlord.

What are some of the amenities in their new area?
There are several well established restaurants and cafes as well as bars within the immediate area, such as the new Westfield complex and the revamped MLC retail food court offering.

Read full magazine here: https://view.joomag.com/sydney-office-update-sydney-office-update-november-edition/0186888001509947657?short


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