LaSalle Australia invests across the risk-return spectrum from core, to value-add and opportunistic including development capabilities that range from new builds to repositioning and refurbishment.
The team includes acquisitions, development and asset management teams working together seamlessly with a strong focus on implementing income and capital enhancement initiatives via asset repositioning and active asset management. This often includes environmental and sustainability improvements, as well as a focus on wellness.
In 2010, LaSalle partnered with a local developer to deliver a 622,000 square foot, premium grade, office asset in the heart of the Sydney CBD on behalf of its opportunistic fund. Prior to construction completion, LaSalle secured leases with top tier law and consultancy firms, maximizing cap rate compression. This asset achieved a 5-star NABERS energy rating, a 6-star Green Star rating and won numerous prizes, including the 2014 World Architecture Festival Office Award and the 2014 UDIA Excellence in Sustainable Development Award.
2014, on behalf of its opportunistic fund, LaSalle entered a JV with a top tier, local development company in a residential market experiencing strong fundamentals and supported by a robust Australian economy. The site specifically benefitted from its location in close proximity to the city with excellent public transit links. The development includes 224 apartments and 44,000 square feet of commercial space.
222 Exhibition Street
In 2015, on behalf of a separate account client, LaSalle acquired this 28-storey, 337,000 square foot, office asset to re-let and reposition into a trophy asset within the market. Upon acquisition, the property underwent major common area refurbishments in the lead up to the expiry of the major tenant who was occupying ~70% of the Net Lettable Area (NLA). Since completion, LaSalle has secured leases with a global firm and a government agency to fill the entirety of the space prior to the existing tenant’s expiry and at substantially increased rents.
In 2014, LaSalle acquired this 230,000 square foot sub-regional shopping centre on behalf of a global separate account to redevelop and reposition from its existing tired state into an enhanced offering with a more attractive tenancy mix. Upon completion, LaSalle secured leases with a number of desirable F&B operators and mini major tenants.