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the facts

483 - 485
BRIDGE ROAD

RICHMOND

Leased 483 - 485 Bridge Road Richmond 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 483 Bridge Road Richmond TCI Lease Leased

THE PROS

  • Double frontage onto Bridge Road
  • Located between anchor tenants Harvey Norman and Adairs
  • Open plan retail showroom with high clearance
  • Exposed trusses
  • Rear RSD access
  • Council car parking at rear, ideal for customers
The Facts 483 Bridge Road Richmond 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 483 Bridge Road Richmond 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 property was effectively a renovated main road warehouse
  • The polished concrete floor was not an even smooth surface
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased
The Facts 483 Bridge Road Richmond TCI Lease Leased

THE CHALLENGES

  • General market negative sentiment associated to Bridge Road leasing
  • To overcome this, our marketing campaign promoted this particular section of Bridge Road as being the “golden mile” of Bridge Road, with neighbouring national anchor tenants being evidence of this
  • The property was previously leased at a rent of $113,073 per annum + outgoings + GST. The tenant wanted to vacate early and TCI negotiated an early surrender of lease, with the tenant paying the equivalent of 12 months rent + outgoings + GST
  • Our goal was to secure a new tenant immediately, to avoid loss of rent for the Landlord
The Facts 483 Bridge Road Richmond 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 483 Bridge Road Richmond 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 4 weeks (including Christmas and New Year downtime), TCI secured 2 signed offers – one from a multi-national retailer and the other from a well-established non-for-profit organisation, providing the Landlord the option of their preferred tenant
  • Following rounds of negotiations, the multi-national retailer’s offer was increased to $135,000 per annum + outgoings + GST, and the non-for-profit organisation’s offer was increased to $114,000 per annum + outgoings + GST
  • The non-for-profit organisation’s charitable status provided the Landlord with an exemption on the Single Holding State Land Tax ($26,000) i.e. the Landlord would not incur Land Tax
  • The property was subsequently leased to the non-for-profit organisation at a net effective rent of $140,000 per annum + outgoings + GST or $438/m2 net, with the Landlord retaining the balance of 11 months rent and outgoings paid by the previous tenant (less expenses), as well as a 23.82% increase in rent
  • Final result being 6.82 times quicker than market average

the facts

market average

0

DAYS on market

  • RESULT
0

days on market

  • difference
0
.82

TIMES QUICKER

Campaign performance

No Data Found

DAYS ON MARKET

No Data Found

DAYS ON MARKET

market EXPECTATION

  • RESULT

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

Leased 483 Bridge Road

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

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

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