The 12-storey tower at 100 Waymouth Street in Adelaide is to undergo a multi-million dollar makeover that will, when completed early next year, give it the face of the 21st Century. It will be sleek, chic and green. And to Bobby Binning, National Leasing Manager of Cromwell Property Group, it will be a beacon of opportunity for a company looking to future proof its business.

The battle for talent

"I believe that properties are the enabler for successful companies," he says. "Those that succeed best are those that focus on looking forward, and identify where they can improve. The most important factor for every successful business is its people and retaining quality staff is where a great building comes into play."

The battle for recruiting and retaining talent is a top priority for companies that continue to outperform their competitors. To Binning, providing employees with a quality workspace that makes them feel proud to be there goes some considerable way to retaining them. The flight to quality across all markets is evidence of this fact.

Fitting in with future demands

Binning believes that the challenge to the industry is to bring some of the country's older buildings into the 21st Century by greening them and by upgrading and enhancing their amenities. This is what is happening to 100 Waymouth Street where Cromwell, a company that manages $1.8 billion in assets, is planning to spend generously to make it fit with the future demands of tenants.

"As a city, Adelaide has some very good fundamentals," Binning explains. "But there will be a lack of good quality contiguous space. We fear that tenants looking for large space in the next 12 to 24 months could run into difficulties. We believe there will be a shortage of Premium and A Grade space."

Brand new quality without the price tag

It is against this backdrop that Cromwell decided to invest in the makeover of Waymouth Street. The typical floorplate size in the building is 1,015 metres, with an eastern side-core, and full-height

double glazed windows to three and a half sides. It is located close to the corporate heart of the city with easy access to all amenities such as shops, cafes, restaurants, car parks and public transport. It also boasts panoramic views across the Adelaide skyline.

"This building will present tenants with the perfect opportunity to future proof their businesses," Binning says. "It will have the look and feel of a brand new building with modern features but it won't carry the same price tag. It will allow companies to invigorate their organisational culture and philosophy."