Commonwealth Bank of Australia: Banking On A New Tenant For Its Building

Commonwealth Bank of Australia's building in Murwillumbah was up for lease. The bank also guaranteed a commitment for lease renewal to potential tenants.

Consequently, the client exclusively appointed Cushman & Wakefield for a marketing strategy and tenant search.

Cushman & Wakefield proposed an expression-of-interest campaign, including the right marketing channels. We also presented a comparative analysis of previous campaigns that used a similar strategy and showed spikes in enquiries.

During the campaign, we positioned the property as part of the wider Tweed region to overcome the belief that Murwillumbah is only a small town. We also emphasised the Commonwealth Bank of Australia's strength as a brand.

Commonwealth Bank of Australia eventually closed the deal valued at $1,825,000. From this, the bank enjoyed a yield that is nearly 15% above its expectations.