Larkfield Stone's leasing proposal to Wharfedge Capital for One Garnet Quay. 462,000 empty square feet, eleven full floors, four suites and half the retail, taken from 58 to 93 percent occupied by month thirty. We're paid when a lease is signed, and not before.
For Helena, Marcus, Ines and the investment committee. Issued November 2, 2026, open until December 4, 2026.
“We bought Garnet Quay at 81 percent. It's at 58. We need it near 90 before the fund's sale window opens in 2030, and we need to know which of our dollars gets it there.”
Wharfedge Capital, leasing brief for One Garnet Quay, October 2026
Eleven full floors in three blocks, four part floors and half the ground-floor retail.
Five in-place tenants, the largest an insurance broker on floors 6 and 7 in June 2027.
The fund can sell from March 2030. Value at sale is rent roll, and rent roll is leases.
From Marcus's walk-through on October 14 and the brief that followed.
These are the ten groups touring or in proposal with us today, anonymized the way we'd keep them in a live pipeline. Drag one onto a floor, or tap it and then tap a floor. Full-floor users need that many empty floors in a row. Tap a placed lease to take it back off.
Ten prospects, all real interest in our book this quarter.
Building value is net operating income at a 6.5 percent cap rate.
Five capital items are on Wharfedge's list. Turn each one on and the building drawing, the months to 90 percent and the net effective rent move with it. Each card shows the value it adds per dollar spent.
Our plan for Garnet Quay, scrolled one month at a time. Every lease below is a prospect from the pipeline, placed where it fits.
The first week we call the insurer on 6 and 7. The first quarter we relaunch the building to every tenant broker in the market. The spec suites open in month seven, the lobby in month fourteen.
Each person who signs gets a floor that answers their own question, with a tool to test our answer.
“What is Garnet Quay worth on the day we can sell it?”
Helena, Fund CIO. Owns the exit.
The window opens at month 40, in March 2030. On our plan the building is past 90 percent by month 27, so the fund has a full year of signed, paying leases to show a buyer before the window opens.
Move the slider to see the cost of waiting or rushing. Selling at month 24 takes about $82 million off the price, because the family office, the last suite and the insurer haven't signed. After month 34 the line goes flat. Floor 17 is the only one left, and we'd hold it for the right user.
Every figure here comes from the plan on the previous floors, at a 6.5 percent cap rate. Change the cap rate and the shape holds.
“Who's about to walk out, and what are you doing about it?”
Marcus, Asset Manager. Runs the building day to day.
“What do we pay you, when, and what if leasing stalls?”
Ines, CFO. Signs the fee agreement.
About 94 percent of the fee is commission, earned only when a lease is signed and paid half at signing, half when rent starts. If leasing runs at half our pace, the fee roughly halves with it. The fixed lines pay for the spec suites, the relaunch and your quarterly reporting, and they're the only money at risk if we underdeliver.
“Show us the downside before you show us the plan.”
The investment committee, five members. Approves the mandate and the capital.
Every prospect from the pipeline signs on our timing and asking rents hold.
One base and five lines you can drop. Each says what you lose without it. Commission rates are fixed for the whole mandate.
What we'd sign. Everything on. If one line has to go, drop the retail line and lease the ground floor yourselves with the restaurant group already touring. Keep the renewals, because the insurer on 6 and 7 is worth more than anything else on this page.
We're the only leasing broker on Garnet Quay from signing. Every tenant broker in the market is welcome and paid by us out of our commission.
New leases at $1.85 per square foot per lease year, renewals at $0.85. Half is paid at signing, half when rent starts.
On 60 days' notice, for any reason. We keep commission on leases already in proposal for 180 days after, and we'll give you that list on the day.
Expansions by Wharfedge's other portfolio tenants carry no commission, and you can name up to five more relationships at signing.
Nothing signs without Marcus. Any lease over two floors or with more than ten months of free rent goes to the committee first.
Pipeline, rents achieved, concessions and a valuation note for the committee, in the format your fund administrator uses.
Sign below and we start on Monday with a call to the insurer on 6 and 7. This is a demonstration page, so nothing is sent.
Three-year fee as configured, $9,595,800.
Reviewed by our team, the leasing lead, two senior brokers, our research analyst and our marketing studio, who'll be the people on the floors with you.