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.
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.