The Quintessential Network with MRS Property Michael Rouvray
MRS Property has a long-standing relationship with Quintessential Equity, working on behalf of tenants, particularly within our 431 King William Street, Adelaide commercial office building.
We sat down with Michael Rouvray, director of MRS Property, to discuss the value of collaboration in delivering successful client outcomes.
We understand you have worked heavily on 431 King William Street, can you tell us about this property?
Since QE purchased the building in late 2018, you can’t help but to be impressed with how the building’s been transformed into a modern, good-quality asset. Completed works to the façade, the foyer, all the building services, wet areas, end-of-trip facilities, and the floor-by-floor upgrades, have been really impressive.
We have assisted a large number of our clients in either renewing their leases in the building or relocation since QE took control of the asset.
Tenant demand in this building has been strong on the back of the upgrades undertaken but also the building itself is accessible by public transport with ample amenities and has uninterrupted views over the parklands, hills and the coast.
What challenges did you face with 431 King William St?
Prior to QE purchasing the building. we were working with a legal firm negotiating on a couple of floors in the building. Halfway through the negotiations, the building went under due diligence so negotiations ceased with the current owner and continued with QE.
The commercial terms of the deal had to change because QE were planning to invest a significant amount of money into transforming the asset. Even though it was a challenge, QE handled it extremely professionally and managed to keep the negotiations going in the right direction and a good commercial outcome was achieved for both parties.
Can you tell us example of satisfied tenant relationship?
We recently assisted a client that committed to 431 King Williams Street. We had explored a large number of alternative options in the marketplace and 431 King William was subsequently shortlisted. During the selection process of a preferred site, QE took the initiative to meet with our client and made time to understand their business and their requirements and provided the key attributes of the offering. That personal approach definitely helped with our client’s decision to move to this building. We were able to successfully negotiate a new long-term lease over a whole floor in the building and QE then project managed the fit-out.
The project team delivered an exceptional fit out, which came with very positive reviews from the staff. It was a great result for all parties.
How have you had to adapt the way you do business as a result of the pandemic?
Our focus was on strengthening our existing client relationships. A lot of our clients were facing challenges when the pandemic hit and we made it a key focus to make contact with all our existing clients, including clients we have previously worked with over several years. This enabled us to understand how their business was going, what challenges they were facing, but also to discuss opportunities going forward. This enabled us to provide the right advice to our clients during this time.
How important is collaboration and relationships in what you do?
I don’t believe you can run a successful property business without team collaboration and strong relationships with your staff and clients. Our vision was always to build a company that provided a superior level of personal service to its clients. Since the very beginning we’ve enjoyed exceptionally strong relationships with our clients and most of our work has come from our existing clients and personal referrals. Although we’ve grown, the personal way we do business hasn’t changed.
How have you found working with QE?
I have thoroughly enjoyed working with QE. They take the time to build that landlord-tenant relationship. They see that it’s just as important to retain existing tenants than is to attract them. They have got that balance right.
We’ve negotiated several new leases or renewals with QE, and all the dealings have been extremely commercial, professional, but also very enjoyable.Back to all articles