The Treasury, No.1 The Terrace
Treasury approached us in 2002 to assist them to look for new office accommodation. They had 13 floors of No.1 The Terrace but it was an inefficient space and the building required upgrading.
We co-ordinated the development of high-level and detailed briefs and in conjunction with Treasury’s valuer and legal adviser negotiated in the market for new space.
The most cost-effective solution, surprisingly enough, ended up being with Treasury remaining where they were. That’s just the start of the story.
The heart of the project was the management process and the way the solution was achieved. As part of the negotiations, the project became a complete refurbishment of all shell surfaces and services of the building managed by the building owner followed by an integrated fit-out of Treasury’s space that we would manage.
Treasury had historically occupied 13 floors of compartmentalised offices. The new fit-out was based around an open plan layout for all areas including senior management. This new fit-out plan resulted in Treasury now needing only 10 floors.
Good management became crucial. A solution was having all project participants, from respective clients through to contractors and consultants, adopting a “Partnering Charter”. It identified what each party should expect of the other and was an informal way of keeping people in touch without ‘throwing’ rules at them.
What could have been a fraught and tortuous process worked smoothly. After numerous stages and relocations the project was completed in December 2004, on programme. It was also on budget. We thought that Treasury might appreciate that.