266 King St, Newcastle

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Charter Hall / Investec - ATO Retention Strategy

Incorp were engaged by building owner Charter Hall to support the upgrade of 266 King Street, Newcastle, as part of a tenant retention strategy to retain anchor building tenant, the ATO.

The ATO was currently in full occupation of the building, (Levels Ground to 8) including car parking areas. Driven by an impending lease expiry, and to retain the ATO, Charter Hall wanted to reposition the 266 King St asset as a landmark and ‘A-grade’ building in Newcastle city.

The project works were to include a refurbishment of the lift lobby and end-of-trip facilities, basement, cafe tenancy and external / facade works. Security measures required Charter Hall to ensure the space for the ATO was compliant with government regulations.

Our solutions included the following:
— Site audit and review of the building to determine current standards and requirements.
— A set of design concepts and recommended upgrades developed for Charter Hall to present to the ATO.
— The ATO resigned their lease, consolidating their footprint to four levels, retaining levels 1-4. This then required an extensive staged refurbishment of all levels of the building, working in collaboration with the ATO’s own project managers to ensure their relocation deadlines were met.
— End-of-trip facilities were integrated into the building upgrades following negotiations between Charter Hall and the ATO. These facilities included bike racks in the building’s parking garage, as
well as change rooms with showers, lockers and ironing boards.
— The main entry lobby upgrade was also required to be completed in stages whilst maintaining tight security associated with the ATO presence.
— Charter Hall then sold the building which necessitated the completion of the project working with the new owners Investec.