Suncorp - Brisbane Headquarter 

Why We Were Appointed 

FACTION was appointed by Suncorp as Project Manager to deliver a corporate real estate strategy consolidating four premises into a new 40,000sqm Brisbane Head Office. 

We managed the end-to-end process including site sourcing and selection, Expression of Interest (EOI), Request for Proposal (RFP), Final Competitive Bid (FCB), executive evaluations, and technical due diligence. We also led AFL negotiations with the final shortlisted sites. Through strategic structuring of AFL clauses, we secured favourable commercial and contractual terms, delivering significant savings and long-term benefits for Suncorp. 

By running a transparent and competitive market process, we created developer tension that translated into tangible value, including base building design improvements, concessions on commercial terms, and risk allocations. In addition, FACTION supported the development of Suncorp’s “Flex Space” strategy, working with the developer to establish creative partnerships that aligned with Suncorp’s workplace aspirations. 

Our Role 

• Lead Negotiator & Advisor 

• Technical Due Diligence on Site Selection 

• Development Advisor 

• Probity & Governance Advisor 

• Project Manager – Base Building (Audit) & Workplace 

Benefits Realised (not exhaustive) 

• Significant base building and services enhancements at nil cost 

• $200m+ savings on total occupancy cost over lease tenure 

• $500,000 Technology Fund secured from developer 

• 6,000sqm of Flex Space at discounted pre-agreed rates, avoiding a $48m balance sheet liability 

• Early occupation negotiated, reducing lease tail and delivering five months rent-free (approx. $8m saving)