Cachet Group are proud to feature in the Summer Issue of Informed Investors featuring an excerpt from New Zealand Design Lead, Sarah-Jane Sullivan.
The article ‘Upping the Appeal of the Office’ highlights the new ‘resimercial’ suites that we think are taking over the Speculative Suite market. Sarah-Jane Sullivan (Design Lead from Cachet Group) shares insights on how Cachet achieve and support Asset Owners in the New Zealand market. “…the objective is to create leasable tenancies that fit a wide pool of tenants. Currently this is businesses with 15-30 people”
Using a sure fast ratio, built through Cachet’s extensive knowledge of the market, their design and construct teams apply pragmatic space planning to accommodate a typical tenants’ current size whilst allowing for flexibility to make minor changes later, when their business grows – thereby increasing their leasing term period.
“A suite is all about smart design, incorporating the build aspect in the design, which creates great cost efficiencies for the asset owner, increases the market value of the space whilst creating a leasable and practical space” says Sarah-Jane.
“During our design process for suites, we also ensure we incorporate what we term the ‘resi-mercial’ look. The aim to create a commercial office that mimics a residential and hospitality environment, one that we all have been accustomed to through the COVID lockdowns.” This sees elements like timber finishes, natural materials, soft furnishings, and greenery focused on the concept, creating a memorable and meaningful space.
This is brilliantly showcased in their recent work with 125 Queen Street and AON Centre (pictured above). The (125 Queen St) floor was vacant for over 5 years and had a challenging unusual floor plate creating limited lighting for many areas. To combat this, Cachet Group split the floor into three suites, originally five, to allow for a ratio of meeting spaces, workspaces, breakout and waiting space a tenant would need whilst making use of available views in each suite. These suites were successfully leased, 2 of which prior to completion of build.
It is a challenging time where leaders want to encourage their staff back into the office, and unfortunately most tenants do not have the capital to invest in projects like larger conglomerates do. This gap is what Asset Owners should take advantage of, creating spaces that stick and entice tenants to move and remain in the building for several years.
Read the full article here by Informed Investors and the themes of Upping the Appeal of the Office.