Adapting to meet the needs of the market
Since acquiring 207 Kent Street in 2013, Cromwell has continuously adapted the property to align with tenant needs. Our integrated property management model ensures that we manage properties in accordance with our investors’ interests while meeting tenant expectations. Regular market analysis and tenant engagement inform strategic enhancements that maximise occupancy, satisfaction, and income potential.
Location and amenity – The 20-level A-grade property occupies a premium position overlooking Darling Harbour and is adjacent to Sydney’s Barangaroo office precinct, Australia’s new hub for global financial and professional services. It is a short 5-minute walk from Wynyard Station via Wynyard Walk and is close to bus and ferry services.
Adaptable workplace design – Early on, we recognised that the COVID-19 work from home experience would permanently alter tenant expectations and office space use. On Level 14, we faced a challenging floor plate shape, which required innovative thinking to redesign the space for post-pandemic needs. At that time, few tenants had witnessed or understood what an optimal post-COVID workspace would entail. To aid decision-making, prospective tenants needed to see a modern fit-out showcasing flexible multipurpose zones, open collaboration areas, workspace options, breakout entertainment areas, retreat spaces, and smart IT connectivity.
By providing designers with a reverse brief and budget, we met these requirements and illustrated what an optimised space could look like. This effort resulted in a new 5-year full-floor lease with ERM, signed just four weeks after practical completion. Since then, we have modernised several other fit-outs in the building, achieving positive leasing outcomes.
Social and collaboration spaces for tenants – More recently, we repurposed a previously underutilised and challenging-to-lease area on Level 6, transforming it into a versatile third space for tenants. This area now includes a fully equipped kitchen, breakout areas, a business lounge, and two multifunctional and configurable rooms available for use by all building occupants.
Another key area for socialising and collaboration is the lobby, which has seen continuous enhancements over the years. The latest upgrade transforms it into a vibrant entry space that offers a sophisticated yet welcoming first impression. Designed to be functional for both tenants and visitors, the lobby features enhanced wayfinding, various seating configurations to accommodate different needs, and local Indigenous artwork, including a stunning 5m x 10m piece by a Gadigal artist.
Health and wellness – Cromwell has adapted the end-of-trip facilities at 207 Kent Street to cater to the increasing number of tenants who prefer to ride or walk to work or seek a quick workout during lunch. We transformed a dated, dark end-of-trip (EOT) facility on Level 5 into a bright, inviting space for daily use. The upgraded facility now boasts doubled amenities and, through innovative design solutions, improved energy-efficient lighting and high-quality ventilation. These enhancements have resulted in high tenant satisfaction and positive feedback from leasing agents and prospective tenants.