ABOUT ACTUM
Actum – Latin noun meaning act, deed, transaction.
Actum Property is a client focused property advisory business created by experienced and respected office property expert Andrew Tracey in 2019.
After many years leading major office leasing businesses in global real estate agencies, Andrew decided it was time for a real change and created Actum Property to provide tailored advice to clients in a more personal environment, free from conflict, concentrating on great projects and getting the best outcomes for clients.
Andrew is focussed on being “in the tent” with the client and being aligned to meeting their needs with a strong commitment to collaboration, relationships, confidentiality and ethics.
KEY OFFERINGS
- Project Leasing Strategy
- Asset Revitalisation, Repositioning & Future Proofing Strategy
- Leasing Project Management & Execution
- Tenant Retention Strategies & Execution
- Renegotiation Strategies & Execution
- Occupier Advisory
- Project Maximisation
- Transaction Management
- General Advisory
EXPERIENCE
Andrew is a commercial office expert with deep experience in project strategy, office leasing, project marketing, asset revitalisation & repositioning, future proofing and value maximisation.
He is expert at providing strategic advice on major projects from design inception though to completion and works in a closely aligned fashion with clients in helping them determine the optimal direction for major office assets and developments.
With a strong interest in workplace productivity and in emerging technologies he has a deep understanding of occupier needs, market drivers, cycles and the opportunities to create value.
He has proven pre-commitment experience with major tenants such as BHP Billiton and Deloitte on new benchmark office developments and has worked closely with clients on the repositioning of major office assets across Australia.
Andrew has also provided advice on significant development projects internationally in the Asia Pacific Region.
Andrew has previously acted for clients including AMP Capital Investors, Brookfield, Cbus Property, Charter Hall, Challenger, Dexus, Frasers Property, The GPT Group, Investa Property Group, ISPT, Lend Lease, Macquarie Bank, Mirvac, Sachsen Fonds and QIC.
Andrew is a Fellow of the Royal Institute of Chartered Surveyors and has been a regular speaker at major Property Forums.
Prior to founding Actum Property Andrew was the Senior Managing Director of CBRE’s Advisory and Transactions Office business in Australia and New Zealand from 2013 to 2018. In this role he led both the CBRE Office Leasing, and Occupier Advisory businesses ,and was also a member of CBRE’s Executive Committee in the Pacific.
Prior to 2013, Andrew was with Colliers International for over 15 years and was responsible for the Melbourne Office Leasing Business and was a member of both their National Leasing Executive and their Victorian Executive Team.
RECENT PROJECTS
Strategic Occupier Advisory & Negotiation
March 2020 – June 2023
Working with Trinity College from the start of COVID in 2020 focussing on the leased education portfolio for their Pathway School. Executed largely throughout Melbourne’s COVID lockdown, the strategy focussed on mitigating financial exposure, reducing property risk, and right sizing their property footprint. This ultimately involved multiple transactions.
- The surrender of a 2,200m² lease at 200 Victoria Street, Carlton.
- Re-negotiation of Trinity’s precommitment agreement over 611 Elizabeth Street, Melbourne, then under construction as a brand new A Grade campus building, in a collaborative manner with developer PDG.
- Representing and protecting Trinity’s interests throughout the physical delivery of the new campus building, managing Trinity’s consultants, and representing Trinity at PCG meetings.
- Assignment of the entire 9,300m² building to Royal Melbourne Hospital via an off-market process releasing Trinity from all exposure from the lease commencement date.
- In 2023, as the education market conditions improved, Actum has acted for Trinity, taking advantage of market conditions, to again secure a fully fitted out campus to allow for the growth of their Pathways School.
Strategic Occupier Advisory and Negotiation
2023
Actum was engaged by King & Collins in 2023 to assist them in their search for a new office and worked with them, and their design consultant KHID, to find a new home that suited their culture and their values. They are moving into their new premises later this year.
Strategic Landlord Advisory – Melbourne Office Leasing Strategy
July 2021 – June 2022
GPT engaged Actum for a twelve-month consultancy project to provide advice on the most appropriate leasing strategies with respect to the repositioning and releasing of major vacancies in their Melbourne portfolio. With a particular focus on Melbourne Central Tower, Freshwater Place, and 530 Collins Street this consultancy involved working as an extension of GPT’s Leasing Team, providing strategic advice, advising on development of a broader speculative suite leasing strategy, managing appointed leasing agents and the leasing process, advising in tenant retention strategies, and negotiating new tenant commitments.
Strategic Occupier Advisory and Negotiation
2021
auDA is the administrator of Australia's .au top-level domain. Andrew provided strategic advice to the senior leadership with respect to auDA’s Melbourne HQ accommodation strategy, sourcing and securing new home at 8 Exhibition Street, Melbourne during COVID and negotiating the exit of their previous HQ.
Development Advisory - Phillip Nominees
November 2019 – February 2022
Andrew was engaged by Phillip Nominees to provide advice with respect to the potential development of a new office tower in Flinders Lane in the Melbourne CBD. This involved working alongside the Phillip Nominees team in the evaluation and selection of architects, designs, and advice on the market and the marketability of the scheme.
PREVIOUS MAJOR PROJECT EXPERIENCE
Olderfleet, 477 Collins Street Melbourne.
A 58,000sqm Premium Grade Office Tower currently under development by Mirvac and due for completion in mid 2020 anchored by a 22,000sqm precommitment to Deloitte.
This will also be the new home of Norton Rose, Lander & Rogers, Service Now and urbis.
171 Collins Street, Melbourne
A 30,000sqm Premium Grade Office development anchored by a 12,000sqm pre-commitment to BHP Billiton for their Global HQ developed by Cbus Property and Charter Hall. When pre-committed the project was the first new premium building in the Eastern End of Collins Street in over 20 years.
Quay Quarter Tower, Sydney
Strategic advice to AMP Capital Investors on this major 90,000sqm redevelopment project at Circular Quay including leasing strategy, pricing and marketability prior to project launch.
Project subsequently committed to AMP and Deloitte and now under construction.
1 Spring Street, Melbourne
New long term lease negotiated on behalf of private clients over the whole 30,000sqm building to the Victorian State Government.
The complex deal was negotiated off market and includes the refurbishment of the entire building and conversion of non-office areas to new office space whilst the State Government is in-situ.
Freshwater Place, 2 Southbank Boulevard, Southbank
A new development of 55,000sqm of Premium Grade office developed by Australand (now Frasers Property).
This was developed as the former headquarters of PWC in Melbourne with further commitments to Heinz, Microsoft, PMP Limited, Portfolio Partners, SPAusnet, Vanguard Investments.
717 Bourke Street, Docklands
A new development of 37,000sqm of A Grade office developed and delivered during the Global Financial Crisis (GFC) by a JV client.
Commitments at height of the GFC to American Home Assurance, BP, Channel 9, Financial Ombudsman Service and Telstra.
Twenty 8 Freshwater Place, Southbank
Speculative development of 34,000sqm of A Grade office by Australand (now Frasers Property).
100% leased at completion with commitments to Adecco, BASF, CPA Australia, Incitec Pivot, Minerals and Metals Group, Nexus Energy, Parsons Brinkerhoff, Publicis Mojo.
357 Collins Street, Melbourne
30,000 sqm A grade refurbishment of old ASX building that had been a vacant shell for many years redeveloped by Australand (now Frasers Property).
Major commitments to Commonwealth Bank and Service Stream.
80 Collins Street
Initial repositioning of old “Nauru House” to new “80 Collins Street” for QIC. Commitment to AON, including signage as part of the new repositioning strategy, commitments to State Trustees, Metro Trains. Strategic assistance with renewal of Victorian State Government.
Initial development advice to QIC on the new 80 Collins South Tower that is currently under construction.
CONTACT
For more information or to arrange a meeting with Andrew, please call or email using the contact details below: