ELM Solutions began their leasing search by reaching out to Caden’s Chris Chapman who quickly got to the bottom of their requirements. Having an early understanding of the brief meant that ELM were able to be efficient with time, only inspecting options that aligned very closely with their future office preferences.
ELM anticipated that they would grow in the short term, which, from an office space point of view, meant that they were seeking to retain a level of flexibility for expansion and were reluctant to commit to a space for an extended period, which limited their options to a degree.
With the way deals and incentives are structured, the fact that they could only commit to a short lease term meant that they either had to find an existing fit out, or find a Landlord who would be flexible on lease term and would allow them to take on a spec fit out.
After inspecting some options in the CBD, ELM came across 100 Edward St, which, by virtue of timing, had a tenant who recently vacated ~ 230sqm on Level 11. The existing fit out in the space had little value and was quickly stripped out and replaced with two (2) spec suites measuring 105sqm and 121sqm respectively.
Because ELM acted quickly when the suites were still in their design phase, they were able to work with the landlord and builders to tweak the tenancy slightly to suit their exact specifications.
For the tenant, the ability to almost custom design a brand new suite, and achieve a lease deal on a 3 year term, was extremely favourable and made it an easy decision for ELM to take their business to 100 Edward Street.