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the facts

245
BRIDGE ROAD

RICHMOND

Leased 245 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 245 Bridge Road Richmond TCI Lease Leased

THE PROS

  • Existing fit-out
  • Inviting high ceiling at entrance
  • Sealed concrete floor
  • Opportunity for new tenant to save on fit-out expenses
  • On-site parking for 3 cars
The Facts 245 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 245 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

  • Lettable area included mezzanine floor with low ceiling
  • The property was a ground floor retail shop but with an office fit-out i.e. restrictive to other uses without renovations
  • Unusual shop front with concrete columns limiting exposure
  • On the less desired north side of Bridge Road
The Facts 245 Bridge Road Richmond TCI Lease Leased
The Facts 245 Bridge Road Richmond TCI Lease Leased
The Facts 245 Bridge Road Richmond TCI Lease Leased
The Facts 245 Bridge Road Richmond TCI Lease
The Facts 245 Bridge Road Richmond TCI Lease Leased
The Facts 245 Bridge Road Richmond TCI Lease Leased
The Facts 245 Bridge Road Richmond TCI Lease Leased
The Facts 245 Bridge Road Richmond TCI Lease Leased

THE CHALLENGES

  • Prior to our appointment, the property was effectively vacant for ~2 years and marketed by multiple other agents – the marketing required a different approach
  • General market negative sentiment associated to Bridge Road leasing, particularly between Church Street and Lennox Street where this property was located
  • To overcome this, our marketing campaign focused on a new ‘vision’ of Bridge Road – with new developments and destination operators creating increased foot traffic. Richmond Traders Shopping Centre and The Motley Hotel, as well as neighbouring tenancies, were promoted as catalysts of this change, presenting the opportunity for tenants to take advantage of the current rent whilst the area continued to elevate
The Facts 245 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 245 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 2 weeks, TCI leased the property at $35,000 per annum + outgoings + GST, with no incentive provided to the tenant
  • Final result being 13.21 times quicker than market average

the facts

market average

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  • RESULT
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days on market

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TIMES QUICKER

Campaign performance

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DAYS ON MARKET

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market EXPECTATION

  • RESULT

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 Bridge Road

Leased 245 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

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

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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