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the facts

136
KEILOR ROAD

ESSENDON NORTH

Leased 136 Keilor Road Essendon North 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 136 Keilor Road Essendon North TCI Lease Leased

THE PROS

  • Large frontage to Keilor Road
  • Limited leasing opportunities for similar buildings on Keilor Road
  • Front and rear RSD access
  • On-site customer car parking
The Facts 136 Keilor Road Essendon North 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 136 Keilor Road Essendon North 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 main road warehouse
  • Not located within primary section of Keilor Road with more foot traffic
  • Fit-out was outdated and required renovations
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased
The Facts 136 Keilor Road Essendon North TCI Lease Leased

THE CHALLENGES

  • The property was leased to Goodyear at a rent of $133,316 per annum + outgoings + GST until mid-October 2024. The tenant wanted to vacate early and TCI negotiated an early surrender of lease, with Goodyear paying all rent and outgoings to mid-October 2024 i.e. the original lease expiry date, plus reinstatement costs as a lump sum
  • Our goal was to secure a new tenant before mid-October 2024, to avoid loss of rent for the Landlord, and allocate no more than the reinstatement costs received from the previous tenant to refurbishment costs of the property for the new tenant
The Facts 136 Keilor Road Essendon North 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 136 Keilor Road Essendon North 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 5 weeks, TCI leased the property on 1 September 2024 at an increased rent of $142,500 per annum + outgoings + GST or $328/m2 net on an initial 5 year term, with no downtime and no renovation costs incurred by the Landlord i.e. the Landlord retained the reinstatement costs and rent and outgoings to mid-October 2024 (less expenses) paid by the previous tenant, as well as a 6.89% increase in rent from 1 September 2024
  • The tenant being Habitat Pets – a well-established pet store with 6 existing locations, and having spent ~$150,000 in renovations/fit-out
  • Final result being 9.57 times quicker than market average

the facts

market average

0

DAYS on market

  • RESULT
0

days on market

  • difference
0
.57

TIMES QUICKER

Campaign performance

No Data Found

DAYS ON MARKET

No Data Found

DAYS ON MARKET

market EXPECTATION

  • RESULT

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

Leased 136 Keilor Road

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Contact

Address

463 Bridge Road,
Richmond 3121

Phone

03 9426 8000

Email

teneketzis@tciproperty.com

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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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