Leased 30-32 Hull Street Richmond TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the
challenges & the reveal!
Located in Richmond with limited supply of warehouses
Polished concrete floor in warehouse
Attractive outdoor terrace
THE CONS
No car parking
Limited natural light to open plan office area
Partitioned offices had non-transparent plastic sheeting – glass would have been preferred for light and sound proofing
Office flooring was sealed plywood sub-floor
THE CHALLENGES
The property was a combined warehouse and office. No car parking poses a challenge in leasing offices in particular
To overcome this, the property was marketed with 4 internal car parking spaces (tandem), with the option to also park in the nearby Richmond Traders Shopping Centre
THE REVEAL
Within 11 weeks, TCI leased the property at the asking rent of $118,000 per annum + GST
The tenant being Urban Rest – a multi-national premium serviced apartment operator
Final result being 2.64 times quicker than market average