The peak business organisation representing manufacturers and suppliers of dental products, the Australian Dental Industry Association (ADIA), has purchased new and substantially larger office space in Sydney, a move that provides member businesses with free access to meeting rooms just minutes from the airport.
"To support the ongoing growth of the Association, over the course of the past six months we have reviewed the long-term office accommodation needs. This has resulted in the sale of the existing building and the purchase of new, larger office space in close proximity to the Sydney central business district and airport," said Troy Williams, ADIA Chief Executive Officer.
The ADIA national office is currently located within a five-level commercial building that is at the heart of the Green Square residential development precinct. Following a protracted series of multi-party negotiations, the entire building was sold for an amount considerably more than recent valuations.
"The sale followed an extensive review by the ADIA Board – Audit and finance subcommittee to satisfy all Directors that this price, achieved as a result of the entire building being on the market, provided a return not achievable in other circumstances," Mr Williams said.
The sale was dependent upon ADIA being able to find suitable long-term accommodation and new office accommodation was found in Alexandria, in close proximity to both the Sydney central business district and Mascot airport. The light-filled office space is approximately twice the size of ADIA's national office accommodation and not only provides staff with a great work environment, delivers benefits for members businesses.
"Member businesses will have free access to a multi-purpose room suitable for meetings, training courses and product launches that opens onto a balcony with views of the city skyline. A separate members' lounge will provide a forum for members to hold smaller, more intimate meetings," Mr Williams said.
In considering the needs of both national office operations and members, ADIA's leadership took all considerations into account including location, building size and accessibility through to the option of leasing or purchase. In the end, purchase was the preferred option with ADIA acquiring the new building without requiring finance.
ADIA will relocate to the new premises in mid-November 2016.