Commonwealth Bank of Australia: Banking On A New Tenant For Its Building
01 THE CHALLENGE
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.
02 THE SOLUTION
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.
03 THE RESULT
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.
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