Q & A with Coretex - room to grow

Interview with Coretex CEO Tracey Herman

Tenant: Coretex Limited

New home: 73 Remuera Rd, Remuera

Move date: July 2019

Area leased: 1,224m2

How long did you stay at your previous premises?

 We leased our previous premises for two years which suited our needs really well as we found a space that required minimum fitout changes on a short term. Over the past two years we have doubled our space requirements from 690m2 to now being 1,224m2.

How far out did you start looking for new office premises? Was it long enough?

We started looking for alternative premises nine months prior to our lease expiry, but we were clear on what we needed to find and made a very quick decision. Our new premises was fitted out, which compressed the amount of time we needed for any transition. 

What were the key drivers for your move? 

We have two main drivers for the move, being:

• Growth. We were at capacity at our previous premises and didn’t have an ability to fit more staff into the space. 
• There was also a strong desire to have better access to amenity in any new location. Having gyms, cafés, good public transport links and shops was key to our move and our ability to attract new staff as we continue to growth 4. 

How did you determine what your future office should look like? Did looking at other sites help?

Yes, looking at other office spaces did help us determine what works, and ultimately helped us decide on what we wanted. Our requirement was to find a nice modern office space with good natural light, high ceilings and ideally something with an existing fitout for meeting rooms and largely open plan work areas. Having a modern space with existing fitout was about balance, building performance, financial cost and attracting new talent and retaining staff.

Did the move enable you to change the way you are working? 

There was an opportunity for us to look at the way we work as everyone has a dedicated desk, however this wasn’t a priority . The move was more about upgrading the location and having enough space to continue to grow. Looking at the way we work could still be an opportunity down the track when we start to reach capacity again. 

Activity Based Working (ABW) - fad or fabulous? Why?

I am not sure if is fad or fabulous, but it is inevitable at some point. I think it’s just one aspect of any office premises and for us it was more important to focus on being in the right location and have the space to allow for immediate growth. We are open to looking at ABW moving forward.

Now that you are occupying the new space, how has the feedback been from your team members? What is the biggest change?

The feedback from staff has been hugely positive. The building is an upgrade from our previous building and the access to amenity and public transport is now greatly improved. Moving into Newmarket was a great decision. 

What piece of furniture has made the most impact with team members and how they work?

The stand-up collaborative meeting areas within the office have been a hit. The new space is larger than our old office so we can now allow for more collaborative areas and not always have people take up meeting rooms. 

Have team members changed the way they are commuting to work because of the move?

Staff have really embraced the new location and are now using public transport as we have fantastic access to both buses and trains. 

What are some of the things you did right with the fitout? 

We inherited a lot of the fit out from the previous tenant, however having more meeting rooms and the open plan collaborative areas has made a big impact on how people use the space. Staff have a choice on where and how they can engage with each other.

What is the one thing you would do differently with the fitout?

In an ideal world we would start the fitout from a blank slate to have exactly what we want however we wouldn’t want to pay for it. Re-purposing an existing fitout is sometimes difficult however financially compelling. 

What is advice you would give another company looking to move premises? 

Three pieces of advice:

• Allow enough time for the entire process. Property search, negotiations and fitout period.
• With regard to fitout companies, look at spaces they have completed and talk to previous customers to know how the entire process went from start to finish to understand how they operate.
• Use one agent and one that you trust. Dealing with a good agent that knows what your requirements are and what you like will save you a lot of time.