Key challenges
Due to multiple false starts, site owners were pessimistic about Probiotec’s intent to commit, creating trust issues for them in the beginning. Additionally, the site needed to be within close proximity to existing premises, where there were limited options in the specified time frame. After signing the Heads of Agreement (HoA), the chosen owner altered the design to increase the footprint of the adjoining development, creating additional challenges for Probiotec.
Our approach
TMX worked cohesively to prepare a technical design brief inclusive of bespoke items required by Probiotec, with accompanying architectural drawings.
A supply analysis of suitable sites to accommodate the future property requirement was provided, before all short-listed responses to the RFT were assessed. TMX also utilized our in-house architects to re-design the internal warehouse fitout, providing Probiotec with an operational solution to meet their business requirements.
To close out the project, TMX coordinated the HoA negotiations and managed the legal process to ensure formal documentation protected Probiotec from start to finish of their future lease.
We have been through a number of processes with agents in the past and we couldn’t get it done. The TMX team really go into bat for us. TMX have really good people with an understanding of the whole end to end process.
The results
The project delivered significant outcomes for Probiotec, securing AUD$9.45 million for tailored building upgrades benefiting Probiotec throughout the lease. This ensured full incentive use, stable rents despite inflation, and reduced lessee obligations. Negotiations also included a capped rent review structure and an extra three-month incentive extension to accommodate design changes without operational impacts. Additionally, a strategically located site with early access provisions was secured, facilitating a seamless transition while safeguarding Probiotec's incentives.