Overview
Acumentis provided a strategic asset management plan for a $3.3 billion national portfolio comprising office buildings across multiple jurisdictions, heritage-listed assets, law courts, specialised facilities, vacant land and sites requiring remediation. The agency engaged Acumentis to assess the strategic feasibility of retaining, refurbishing or divesting selected Commonwealth-owned office assets, informed by current and emerging office market conditions
By conducting a cost-benefit analysis on each strategic asset, we supported the agency in effective decision-making regarding retention versus divestment. This strategic approach integrated market intelligence with asset management plans to reduce management time by up to 30%, providing the certainty needed to navigate a constrained market cycle.
Approach
Acumentis conducted a targeted feasibility study supported by current market research and updated intelligence across key office markets, with particular emphasis on Canberra and capital city CBDs.
The engagement included assessment of:
- Market rents, incentives, vacancy and absorption trends
- Short-term outlook factors including new supply, hybrid working and economic conditions
Using this evidence, Acumentis assessed three strategic options on an asset-by-asset basis:
- Retention, where fundamentals were stable
- Refurbishment, where capital investment was required to remain competitive
- Going out to market, where assets were non-core or misaligned with future demand
- A focused risk assessment supported each option, considering supply timing, demand uncertainty, market cycle positioning and asset-specific obsolescence risks.
Impact
- Enabled market-informed, asset-specific decision making
- Avoided a broad portfolio-wide market engagement
- Supported clear decisions on retain, refurbish or selectively divest strategies
- Provided a defensible framework for managing office assets through a constrained market cycle