Preparing our customers for the future through enabling flexibility, productivity and growth

Enabling our customers

We continue to refine our offerings for our customers and building occupants, to provide superior products and services.

This year we launched an experience which we call Workspace Dexus that is designed to provide flexibility and make working simple and easy for our customers.

Workspace Dexus has been developed following extensive customer engagement and will continue to evolve into the future.

In addition, we opened Dexus Place at 1 Farrer Place in Sydney, expanding our customer offering for flexible, on-demand meeting, training and event facilities.

We launched Childspace to assist customers access childcare, and grew our car parking and sharing solutions.

We strengthened our engagement with customer through online customer portals and launched our new online thought leadership hub Prism.

 

 

 

 

 

 

 

 

 

 

 

Delivering FY17 future enabled customers commitments

 = Achieved   = Not Achieved   = Underway

Commitment Status FY17 achievements
Expand Dexus’s online tenant portal to all Dexus managed office properties, creating a virtual eco-system for networking and commerce Implemented 35 Workspace portals across the platform, growing our Dexus community to more than 25,000 active users. Launched Prism thought leadership website, bringing multiple perspectives together to help our customers shape their workspace now and in the future.
Introduce a fourth Dexus Place to meet the demand for state-of-the-art premium meeting, training and conference amenity and enable flexibility, creativity and productivity for our customers Opened a fourth Dexus Place at 1 Farrer Place in Sydney in October 2016 expanding our Dexus Place offering to four facilities.
Deliver an endorsed digital engagement strategy across our retail websites and social media platforms, focused on creating meaningful content that drives community participation and engagement Delivered 12 new retail centre websites creating a more engaging online experience for our communities. Utilising social media platforms to connect with local communities daily, driving greater participation and conversations.
Provide greater flexibility for our customers through a package of options including shorter term leases, expanded suites strategy for larger occupiers, and wider adoption of the short form lease across the Office and Industrial portfolio Embedded flexible options as part of our leasing approach including shorter lease terms and the short form lease. Continued to build suites across the portfolio.

 Refer to the 2017 Dexus Annual Report for more information.

Customer insights

We value our customers’ opinions and actively engage to assess customer satisfaction levels, gather feedback on our performance, and gain insights to drive innovation.

Our FY17 customer satisfaction survey was conducted online with approximately 1,917 customers invited to respond. The overall satisfaction score remained consistent at 8.0 out of 10 across 790 respondents and 40% of respondents were classed as highly satisfied (rating a 9 or 10).

Industrial property satisfaction scores improved by +0.5 to 8.1 among industrial customers. The overall Net Promoter Score (NPS) has also seen an improvement (+28 to +31).

 

Workspace Dexus

Dexus works closely with customers and other stakeholders to improve customers’ sustainability performance and awareness as well as delivering new products and services to improve customer experience and wellbeing.

During the year we streamlined our suite of customer service solutions, which genuinely add value to our customers, into Workspace Dexus.

Workspace Dexus provides access to:

  • Five-star concierge service
  • Flexible meeting and training facilities and event space (Dexus Place)    
  • Car parking and sharing solutions
  • Technology, health and wellbeing
  • Childspace
  • Intelligent sustainable buildings

Over the course of the year, we rolled out 35 new online customer portals “Workspace Dexus”, connecting 25,000 of our customers and occupants within building communities, with exclusive access to services, retail offers, building specific information and opportunities for networking events and activities, creating strong vibrant communities.

We introduced the new role of the Community Manager to our buildings, complementing the role of the concierge as part of our commitment to deliver five-star service.

These staff activate and engage with the community in and around our office properties, enhancing the way people connect with each other and the places and spaces around them to make life at work more convenient, enjoyable and connected for building occupants.

Thought leadership is a key element of Dexus’s brand and an important way for the group to differentiate ourselves.

In May 2017 Dexus launched Prism, an online hub providing insights and information as a resource for Dexus customers.

Keeping customers up to date on workspace insights

Located on Dexus’s website, Prism contains links to articles, research and videos on a wide array of topics.

Customers are encouraged to use this information resource on a regular basis and invited to subscribe to updates.

Five weeks following the launch Prism had acquired:

  • 5,605 users over 7,188 sessions
  • 251 subscribers to regular updates from the site

Dexus has engaged these communities to promote our office de-fit recycling initiative, offering used furniture recovered from tenancy de-fits to customers via the Workspace portals, delivering environmental and cost benefits.

In October we opened our fourth Dexus Place at 1 Farrer Place, Sydney, boosting our existing locations in Sydney, Brisbane and Melbourne, to provide our customers with flexible, purpose-built, contemporary meeting, training and conference facilities across the eastern seaboard.

Dexus Place supports our customers to be agile, by providing flexible space on demand with access to state-of-the art technology, “an extension of your office”.

Our partnership with GoGet continues to grow. During the year, vehicles have been added to 480 Queen Street, Brisbane and 1 Farrer Place, Sydney.

GoGet now has 28 cars available for Dexus customers across Sydney, Melbourne and Brisbane. Dexus customers benefit via discount memberships with access to cheaper, highly convenient transportation solution.

Retail customer initiatives

Across our managed retail portfolio, Dexus has established strong partnership opportunities for new customers.

A number of retail developments were completed and launched within their local trade areas, including; Tweed City Tweed Heads, Gateway Sydney and Willows Townsville.

Across each Centre we welcomed new retailers to these new precincts, where they enjoy a range of partnering opportunities from digital content placement, targeted advertising and in-centre activation showcase moments.

The partnership model allows for new customers to be successfully launched into the communities they operate within, resulting in a sustainable ongoing trading environment for our customers and vibrant precincts for shoppers.

Connecting customers and community at Tweed City

Tweed City is a shopping destination for Northern NSW and is owned by the Australian Mandate.

In September 2015 Dexus commenced a $32 million development incorporating a new dining and entertainment precinct for the Tweed region to meet the identified gap in the market for alfresco dining.

In October 2016 Dexus opened The Cove, providing a diverse array of family friendly dining options on offer throughout the day and night, open seven days a week, a play area for children and an open community performance space.

In addition, a new Harris Scarfe and a refurbished JB Hi-Fi store opened their doors, enhancing the fashion, homewares, technology and leisure offering at Tweed City.

Green Leasing and the Simple and Easy Lease

Dexus takes an active approach to leasing to drive portfolio performance and reduce our forward lease expiry profile.

We take a portfolio view on forward leasing, providing flexibility to accommodate customers’ needs within our group portfolio.

This approach assists in customer retention and minimises downtime between leases.

Our ‘simple and easy’ lease simplifies negotiations and adopts a common-sense approach centred on creating a partnership rather than a confrontational contract.

We have embedded ‘green leasing’ within our new precedent lease and encourage customers to collaborate with Dexus on integrating sustainability within their buildings.

‘Simple and easy’ lease achieves Gold BBP rating 

Dexus has played a prominent role in developing the Better Building Partnership’s BBP Leasing Standard, which defines a best practice approach for building owners and occupants to collaborate on sustainability initiatives, encourages information sharing and cooperation and removes barriers to implementing mutually agreed building improvements.

The BBP Leasing Standard is a world-first, aimed at helping building owners and occupants benchmark lease agreements’ sustainability and collaboration against others.

Dexus’s ‘simple and easy’ lease has achieved the highest possible Gold score under the BBP Leasing Standard.

Our lease facilitates an active partnership between us and our customers and seeks to deliver better environmental outcomes and reduce outgoings.           

Further information on is available within the 2017 Dexus Annual Report and our Customers and Community Disclosure of Management Approach.

Future Enabled Customers - performance data

Dexus occupancy and retention

FY13
%
FY14
%
FY15
%
FY16
%
FY17
%
Occupancy by area    
Office 94.4 94.3 95.5 96.3  97.0
Industrial 95.9 93.1 91.7 91.7 96.6
Occupancy by income    
Office 94.6 94.6 95.3 96.3  97.2
Industrial 96.1 93.0 92.4 90.4 96.5
Retention    
Office 72 61¹ 61 62 46
Industrial 70 41 53 32 74
  1. Excludes CPA properties.

Customer satisfaction

FY13 FY14 FY15 FY16 FY17
Surveyed satisfaction (score out of 10)    
Office 7.8 8.0 8.0 8.1 8.0
Industrial 6.8 7.0 7.4 7.6 8.1
Retail - - - - -
Total (average) 7.5 7.7 7.9 8.0 8.0
Target 8.0 8.0 8.0 8.0 8.0
Survey participation rate %    
Office 27% 19% 33% 41% 45%
Industrial 21% 14% 25% 29% 27%
Retail - - - - -
Total (average) 24% 18% 28% 37%  41% 

Green Leases

Take up of green leases within new agreements FY13
%
FY14
%
FY15
%
FY16
%
FY17
%
Office 71 81 82 91 90
Industrial 49 58 45 57 55
Retail 93 93 98 95 88
Total portfolio 75 87 77 88 84

Methodology

Dexus has incorporated a standard green lease clause into new leases across the portfolio and monitors the take-up of this clause by customers across each portfolio.