OSK Property is in the process of developing Melbourne Square, a substantial mix use project at Kavanagh Street which upon completion will comprise multiple residential towers, a Hilton Hotel, Woolworths supermarket and associated speciality retail, a park and office building.
The research sought involved a range of aspects including:
- Case studies of major speculative office development
- Market supply, current construction and future supply projects including precommitment land, rental and incentives applying
- Market interviews with Tenant Representatives/occupier services professionals to establish key demand criteria
- Various financial and value outcome analysis based upon a range of scenarios
Urbis was engaged as an independent property expert who without an office leasing or tenant representative term were positioned to provide unbiased advice.
Our advice forms part of the OSK Property’s Board decision on whether or not to speculatively develop the office tower.