Pfizer

Transaction Strategic Real Estate Advisory
Location Sydney CBD, NSW

CapStra’s role

CapStra was engaged to formulate a strategy to secure a preferred alternative for the Pfizer Australia head office, as well as manage the design and delivery of the fit out at the new location.

Approach

CapStra’s assignment included:

  • Identification of potential accommodation options
  • Financial analysis of shortlisted options
  • Managing the technical due diligence on shortlisted options
  • Providing strategic transaction advice and undertaking commercial negotiations on Pfizer’s behalf
  • Project managing the delivery of a new, bespoke designed head office
  • Cost management – working with a quantity surveyor to ensure the project stays in budget
  • Design management – coordinating with the different parties to ensure the final design matches Pfizer stakeholder requirements and is delivered on time

Outcomes

The current market is the most competitive commercial office market seen in Sydney in the last 20 years. Pfizer, with CapStra’s advice, has outmanoeuvred numerous competitors and secured a competitive commercial outcome with considerable flexibility, which other tenants are failing to achieve in the current market.

CapStra’s Advisory team, through early involvement in due diligence and a collaborative approach with CapStra’s Occupier Advisory team, have helped structure a fit-out procurement agreement to ensure Pfizer can maintain a competitive process whilst also leveraging integration opportunities. The project delivery was ultimately completed in line with the agreed program and budget.

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