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Office · Sector in build

Office feasibility, built around effective rent.

NLA, face rent, incentives, vacancy and leasing downtime, with stabilised value priced off market cap rate. Popurise is live for residential today and is expanding into office next.

Register interest View residential model

Why this sector

Stop hiding the incentive in a margin.

Office feasibility lives on effective rent and stabilised yield. Spreadsheets that quote face rent only and bury incentives miss the answer.

The old way
Face rent on its own.

Incentives hidden. Downtime ignored. Stabilised value reconciled at the end.

With Popurise
Effective rent, end to end.

Face rent, incentives, downtime and vacancy connected to stabilised NOI and exit value.

Effective rent is the real number.Face rent, incentives, downtime and exit yield in one workspace.
  • 01

    Effective rent as the headline.

    Face rent net of incentives, downtime and leasing fees, in one place.

  • 02

    Incentives as real inputs.

    Rent-free, fitout contribution and leasing fee modelled separately.

  • 03

    Downtime and vacancy explicit.

    Leasing period and structural vacancy as inputs, not hidden assumptions.

  • 04

    Stabilised NOI at the top.

    Gross income net of outgoings, recovery and reserve.

  • 05

    Exit yield as the test.

    Capitalised stabilised NOI less sale costs. The viability check.

  • 06

    Scenarios on leasing.

    Base, downside and stretch on rent and incentive, in one project.

The spreadsheet problem

Stop letting the spreadsheet quote face rent.

Office feasibility falls apart when face rent is the headline. The deal lives on effective rent, downtime and leasing fees, which spreadsheets usually average or bury.

  • 01Face rent quoted as effectiveEffective rent calculated from face, incentives and downtime
  • 02Rent-free and fitout buried in opexIncentive types modelled separately
  • 03Downtime ignoredLeasing period as an input
  • 04Outgoings recovery lost in marginGross to net split out cleanly
  • 05Stabilised NOI hand-reconciledStabilised NOI live in outputs
  • 06Exit cap rate hardcodedCap rate sensitivity in one place
  • 07Final_v9 becomes the systemOne live project, one scenario set

The difference

Run office feasibilities faster.

Spreadsheets quote face rent. Generic property tools cannot reconcile incentives cleanly. Popurise is being built around effective rent and stabilised yield.

What you get
Excel workbookBuild it yourself
Spreadsheet templateOff the shelf
Legacy softwareTrained user tool
PopuriseBuilt around the deal
Best fit
Analyst-built lease-by-lease
Single-tenant templates
Trained users
Office development feasibility
Effective rent
Quoted as face
Quoted as face
Available, heavy
Calculated from inputs
Incentives
Buried in opex
Limited
Process-heavy
Modelled separately
Downtime
Ignored
Limited
Available
As an input
Stabilised NOI
Hand-reconciled
Hand-reconciled
Available with effort
Live output
Exit yield
Hardcoded
Hardcoded
Heavy
Sensitivity in one place
Scenario testing
Copy files
Manual edits
Heavy
Side by side
Version control
File chaos
File chaos with formatting
Better, but heavier
One live project

Get to the answer faster, without spreadsheet mess or software bloat.

Register interest

How it works

Three steps to a faster office decision.

Model the deal on effective rent, compare leasing cases and decide whether the scheme is worth pricing.

Step 01

Model the deal

Set the site, NLA, face rent, incentives, downtime and exit yield in one workspace.

Step 02

Compare the cases

Test base, downside and stretch on rent, incentive and cap rate without copying files.

Step 03

Make the call

See effective rent, stabilised NOI and yield on cost. Decide what gets the next round.

What the model handles

An office model, not a renamed residential build.

The Popurise office model is being scoped around NLA, effective rent, downtime, opex and exit yield, for Australian developers.

01

Site and NLA

Site areaGFANLAEfficiencyFloor plate

02

Land and acquisition

Land costStamp dutyAcquisitionSettlement

03

Build costs

StructureFaçadeServicesEnd of tripContingency

04

Rent and incentives

Face rentRent-freeFitoutLeasing feeEscalation

05

Outgoings and opex

OutgoingsRecoveryVacancyReserve

06

Finance and exit

LVRInterestCap rateExit value

07

Programme

AcquisitionConstructionLeasingStabilisation

Popurise model

Inputs stay connected. Change the deal, see the answer move.

Output · PlannedDriven by sector-specific assumptions

Returns

Yield on cost6.8%
Stabilised NOI$18.4M
Exit value$284.0M
Development profit$42.8M
Development margin17.7%
Effective rent$564/sqm
Equity IRR16.2%
Peak debt$182.0M

  1. Development directors

    Decide which office schemes deserve a real bid.

  2. Acquisition teams

    Screen office sites against a target yield on cost.

  3. Leasing teams

    Sanity-check incentive packages against effective rent.

  4. Asset managers

    Stress-test exit cap rate and stabilised NOI.

  5. Funds and investors

    Sanity-check stabilised value against the cost stack.

Why it exists

A better way to run office feasibility.

Popurise is being built around the inputs that decide an office deal: effective rent, downtime, stabilised NOI and exit yield, in one workspace.

Built for office

Model NLA, face rent, incentives, downtime, opex and exit yield in one workspace designed around stabilised value.

Made for faster site screening

Use Popurise to test whether an office scheme is worth bidding before the deeper bid model is built.

Clearer than spreadsheet files

Keep leasing scenarios, opex and cashflows together so the stabilised answer is easy to review.

Popurise helps office teams replace fragile workbooks with a cleaner browser-based workspace for office feasibility and stabilised value review.

Questions

Office feasibility, answered.

Straight answers on how Popurise will handle office feasibility for Australian developers.

Is the office model live today?

Not yet. Popurise is live for residential development feasibility. Office is a future sector being scoped on the same platform.

How is effective rent calculated?

Face rent over the term, net of rent-free, fitout contribution and leasing fee, with downtime applied at the start.

How are incentives modelled?

Rent-free as months, fitout contribution as dollars per sqm and leasing fee as a percentage of face rent, each as separate inputs.

How are outgoings handled?

Gross or net leases supported, with outgoings recovery modelled per lease. The output panel shows gross and net income separately.

What is the exit treatment?

Stabilised NOI capitalised at an exit yield, less sale costs. Sensitivity bands on yield are part of the scope.

Will it model multi-tenant floors?

Yes. Multi-tenant floors with different lease terms are being scoped.

How do I register interest?

Use the Register interest button. Tell us how your team currently models office feasibility and what would help.

Want to shape office feasibility in Popurise?

Tell us how your team models office today. We are building this with the developers who will use it.

Register interest View residential model