The Pfizer challenge
Following a change in business strategy, Pfizer wanted to transform their Australian head office. They had been located at their West Ryde premise for over 60 years, and were looking for smart commercial solution that provided an innovative environment. Whilst offering commercial flexibility.
The firm’s main objectives:
- Move to more innovative surroundings in Sydney
- Leverage workplace to drive strategy and staff engagement
- Create flexibility of space options
- Achieve competitive commercial outcomes across the project
The Pepper Property Solution:
Pepper was mandated to formulate a strategy to engage the market and identify long-term accommodation options that were able to be aligned with various exit triggers within their existing West Ryde lease. With the commercial office market at it’s most competitive in the past 20 years, Pfizer, with Pepper’s advice, out manoeuvred numerous competitors and secured a competitive commercial outcome within the top four floors of Barrack Place, Sydney. An outcome that provides Pfizer with considerable flexibility, which other larger tenants are failing to achieve in the current market.
- Innovative premises
- A workplace solution to drive strategy and promote an innovative culture
- Flexibility of commercial options
- The early involvement in due diligence of Pepper’s Occupier and Workplace Advisory teams and a collaborative approach with Pfizer’s global technical teams, helped structure a fitout procurement agreement to ensure Pfizer can maintain a competitive process whilst also leveraging construction integration opportunities
All to be delivered within Pfizer’s desired window of 2018.