the facts

17
clark street

richmond

Leased 17 Clark Street Richmond TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the challenges & the reveal!

17 Clark Street Richmond TCI Lease Leased

THE PROS

  • Well-presented warehouse
  • Clear span
  • Front & rear RSD access
  • Located in Richmond – with limited supply of warehouses
17 Clark Street 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 
17 Clark Street 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

  • Secondary side street location
  • Limited nearby parking
  • Limited access to RSD

THE CHALLENGES

  • The Landlord required a lease term of no longer than 5 years to retain the flexibility of future re-development
  • The limited lease term precluded interest from tenants requiring a longer lease term and who would otherwise invest in a fit-out
17 Clark Street 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 
17 Clark Street 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

  • TCI leased the property at the asking rent of $88,000 per annum + outgoings + GST on the full 5 year term desired by the Landlord
  • TCI also successfully negotiated for the tenant to pay Single Holding State Land Tax ($21,468 for 2024) as part of the annual outgoings
  • No leasing incentive/rent free was provided
  • The net effective rent was $109,468 per annum + outgoings + GST or $304 per m² net
  • Final result being 35% above market expectations

the facts

market expectation

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Campaign performance

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PER M²

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RENT

market average

leased 17 Clark street

leased 17 Clark street

leased 17 Clark Street

leased 17 Clark Street

leased 17 Clark Street

leased 17 Clark Street

leased 17 Clark Street

leased 17 Clark Street

leased 17 Clark Street

leased 17 Clark Street