NLA 7,127 sqm
Quintessential Group of Companies (QGC) was a joint owner and manager of the property. We managed a base building services upgrade and successfully achieved a 5 Star NABERS Base Building Energy rating, putting it in an elite category in the market. In September 2012 an upgrade of the ground floor lobby was completed. In April 2013, a complete replacement of the lifts was completed, two months ahead of schedule.
At the time of purchase 93 George Street was 90% occupied with the major tenant a NSW State Government Department.
The property was valued before settlement well in excess of the purchase price. The value of the property further increased as a result of the building upgrades and increased income generated by the property. The building upgrades not only future-proofed the asset, but also improved tenant satisfaction and retention.
Following close consultation with the tenant, the NSW State Government exercised their option for a further five years over all their occupied space. This property was sold in Dec 2013 and was fully leased at the time of sale.