Ferocia / Up Banking

Ferocia / Up Banking

After being acquired by Bendigo & Adelaide Bank, a new tech-HQ was needed for this growing Australian brand.

Client Overview

No. of projects:
Multiple Projects
Single Project
3,000 sqm
Banking & Finance
Project Type:
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About the company
Up Banking is an Australian neobank based in Melbourne, with more than 400,000 (mostly young) Australian customers. Founded in 2018, Up was created as a collaboration between software development company Ferocia and Bendigo & Adelaide Bank.
Ferocia / Up Banking

Featured Project

At a glance

The highest incentive paid in Tenant CS's Melbourne history
Two negotiations run in parallel – an assignment + new direct lease
Secured a high-quality space that would accommodate future growth

The Brief

With the business recently being purchased by Bendigo & Adelaide Bank, a new tech headquarters was needed for this growing Australian brand that would:

  • Accommodate long term growth (at a point where the business didn’t know just how fast & big it would grow!)
  • Be the best location for staff, dependent on their preference to run, cycle, commute or drive
  • Assist in attracting good staff and retaining current employees in a fiercely competitive market
  • Incorporate feedback from staff around an all important question: "What’s the best thing each employee has at home, and how can we create it in the office?"

The Results

After exploring on-and-off-market opportunities and negotiating on multiple shortlisted properties, Tenant CS negotiated a Lease Assignment and a direct lease extension from the landlord.

Through these efforts, the team secured Ferocia a 3,000 sqm office over a 7-year lease term. This allowed them to accommodate projected growth and set up a co-working facility for like-minded tech businesses in the short term.

Tenant CS's robust negotiation strategy also resulted in the highest incentive paid in Tenant CS's Melbourne history, which the exiting tenant paid.

Ferocia / Up Banking

Project Team

Project Team

Project Team

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