From the outset, this modern tilt panel strata unit leased itself. The property was originally purchased off the plan by the current Owners who had occupied the property since its construction. The unit had been afforded a stylish office fitout and furnishings, along with a very tidy protective coating to the warehouse floor.
I could tell from my first inspection of the property that it had been meticulously maintained and was not in need of any repairs. The Office to warehouse ratio was perfect for today market (25% office / 75% warehouse) and the depth of the warehouse ensured very efficient racking layout for any incoming tenant.
The Owner was motivated to lease the property and could vacate with a couple of weeks’ notice. Generally, it is not ideal to be conducting inspection while a property is occupied, but in this case, due to the unit being so clean, tidy and presentable, it had the opposite effect and gave any potential tenant the sensation of how pleasant it could be conducting business from this premises.
It took only one inspection, which came from an enhanced listing on realcommercial.com.au, and the Owner was able to achieve the asking rental on a 2+2 solicitors lease. The new tenant was keen to take possession quickly and the Owner obliged, giving access within a two weeks.
The marketing campaign we selected for this property was simple and straight forward – professional photos where undertaken which it made the property jump off the page, both in print and on the internet.
France Medical Pty Ltd are the new tenants of this property with a GFA of 260sqm* – 65sqm office area split over two levels and 195 sqm of column free warehouse. They are now happily moved from Robertson Street, Fortitude Valley.
I would like to highlight that any industrial investor today should look at this strata property as a benchmark when making a decision to purchase under the $1million mark.
|Method of Lease:||Private Treaty|
|Marketing Time Frame:||2 months|
|Lease Date:||1st October 2014|
|Lease Rental (NET + GST)||$37,700 pa|
|Lease Terms:||2 + 2 years|