Hannover Life Re appointed TRS as their tenant representative to handle their Sydney requirements. TRS’ independence was a central driver for this decision, as was the streamlined process for both the Transaction Management and Fitout Advisory services offered. Culture and operations of the company had to be carefully considered throughout the project, as this relocation involved bringing Hannover Re and Hannover Life divisions together into one office. Hannover wanted their new space to be modern in reflection of their company values and to integrate the two divisions seamlessly.
Upon going to market and exploring their options, Hannover favoured Barangaroo, as its large floor plates fulfilled their requirement for a single floor. The building’s strong sustainability measures were also appealing.
Hannover also entrusted TRS to advise on their fitout following the establishment of a strong relationship and successful outcomes throughout the Transaction Management process. Following an extensive evaluation of TRS’ contractor panel, Hannover selected MPA as their chosen contractor. TRS’ role throughout the process was to establish Hannover’s needs and budget and ensure these were the forefront of the design and construction process. The modern, bright and functional space that was created on these principles is a clear reflection of Hannover’s cultural and operational requirements and their brand values going forward.
The project overall was highly successful, with Hannover excited and confident their new space will enhance their businesses needs as they move into the next phase of their operations.
Parties involved in the transaction
- Independent Advocate: TRS acting on behalf of Hannover Re
- Landlord: Lend Lease IMT
- Property Company: JLL acting as Agent on behalf of Lend Lease IMT