VennCap

Office NLA: 4,012 sqm

Strategic Leasing Plan: De-risking the Asset and Maximising Value

Objective

To implement a strategic leasing plan that addresses the lease expiry profile and future short WALT post acquisition.

Challenge

At acquisition, the asset presented with a WALT of six years. However, detailed due diligence revealed a concentration of lease expiries within a 12-month window, significantly increasing future vacancy risk and income volatility. To mitigate this exposure, early implementation of targeted leasing and tenant retention strategies was essential.

Outcome

Through a hands-on management approach and direct engagement with tenants and stakeholders, we established a thorough understanding of occupier business models and future leasing needs. This proactive engagement enabled us to identify and address key issues such as business contraction or expansion before they impacted long-term occupancy.

Our meticulous focus on asset performance, including preventative maintenance and sustainability initiatives, has fostered an increasingly positive tenant experience, promoting retention and stability.

The implementation of our strategic leasing plan has delivered strong results, including:

High tenant retention and minimal vacancies
Restructured lease expiry profile, reducing the risk of multiple simultaneous vacancies
Sustained value throughout economic cycles due to consistent income and stable occupancy

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Key Value-Add Achievements

Strategic leasing plan implemented to restructure and de-risk the lease expiry profile
Improved tenant retention, resulting in a consistent, long-term income stream and reduced leasing transaction costs
Proactive asset management, leading to higher standards and operational efficiency while driving down costs where appropriate

Auckland, NZ