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the facts

153-157
GIPPS STREET

ABBOTSFORD

Leased 153-157 Gipps Street Abbotsford TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the challenges & the reveal!

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The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased

THE PROS

  • Located in Abbotsford with limited supply of warehouses
  • Combined with showroom/offices
  • Corner location with large frontage and exposure onto Gipps Street
  • On-site parking for 4 cars
  • Refurbished with freshly painted walls
  • Sealed concrete floor
  • RSD access
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
TCI Commercial Real Estate For Sale For Lease Sold Leased The Facts Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate 
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
TCI Commercial Real Estate For Sale For Lease Sold Leased The Facts Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate 

THE CONS

  • The building was older and could be perceived as such
  • The warehouse component was a quarter of the total size of the property
  • Whilst the warehouse component could be increased, it would require building works to do so
153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased

THE CHALLENGES

  • TCI successfully negotiated for the previous tenant to pay Single Holding State Land Tax as part of the annual outgoings
  • Our goal was to secure a new tenant at an increased rent, as well as one who would continue to pay Single Holding State Land Tax, which would be a challenge in itself
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
TCI Commercial Real Estate For Sale For Lease Sold Leased The Facts Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate 
The Facts 153-157 Gipps Street Abbotsford TCI Lease Leased
TCI Commercial Real Estate For Sale For Lease Sold Leased The Facts Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate 

THE REVEAL

  • Within 2 weeks, TCI secured 2 offers – providing the Landlord the option of their preferred tenant
  • Following rounds of negotiations, both offers were increased to above the asking rent
  • The property was subsequently leased at a rent of $89,000 per annum + outgoings + GST on an initial 5 year term, commencing immediately upon expiry of the previous lease
  • TCI also successfully negotiated for the tenant to pay Single Holding State Land Tax ($8,610) as part of the annual outgoings
  • The net effective rent was $97,610 per annum + outgoings + GST or $263/m2 net, which represented a 16.52% increase in rent, combined with no downtime and no incentive provided to the tenant
  • Final result being 6.42 times quicker than market average

the facts

market average

0

DAYS on market

  • RESULT
0

days on market

  • difference
0
.42

TIMES QUICKER

Campaign performance

No Data Found

DAYS ON MARKET

No Data Found

DAYS ON MARKET

market EXPECTATION

  • RESULT

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Leased 153-157 Gipps Street

Sold suite 107/397 Smith Street

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Contact

Address

463 Bridge Road,
Richmond 3121

Phone

03 9426 8000

Email

[email protected]

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TCI Commercial Real Estate For Sale For Lease Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate More views. More enquiry. The best results for you.
TCI Commercial Real Estate For Sale For Lease Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate More views. More enquiry. The best results for you.
TCI Commercial Real Estate For Sale For Lease Property Management Richmond Real Estate Cremorne Real Estate Collingwood Real Estate Fitzroy Real Estate Abbotsford Real Estate More views. More enquiry. The best results for you.

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all figures and outlines are approximates only

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