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the facts

447 - 453
victoria street

ABBOTSFORD

Leased 447-453 Victoria Street Abbotsford 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 Leased 447 - 453 Victoria Street Abbotsford TCI Lease Leased

THE PROS

  • Existing food premises fit-out
  • Opportunity for new tenant to save on fit-out expenses
  • Double frontage onto Victoria Street
  • Front display/seating area on titled land
  • Rear RSD access
The Leased 447 - 453 Victoria Street Abbotsford 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 Leased 447 - 453 Victoria Street Abbotsford 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

  • Located on Victoria Street close to Church Street intersection, with general market negative sentiment associated to Victoria Street
  • General condition of the property was older and would require renovations
  • No car parking
447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased
The Facts 447 - 453 Victoria Street Abbotsford TCI Lease Leased

THE CHALLENGES

  • General downturn in leasing market for hospitality venues at the time
  • The Landlord made no representation on any existing food equipment i.e. if it was not operational or ceased to operate, it would not be repaired or replaced by the Landlord
  • The previous tenant vacated the property prior to lease expiry
  • Our goal was to secure a new tenant immediately, to avoid loss of rent for the Landlord
The Leased 447 - 453 Victoria Street Abbotsford 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 Leased 447 - 453 Victoria Street Abbotsford 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, TCI secured 2 signed offers – both from established hospitality operators, providing the Landlord the option of their preferred tenant
  • Following rounds of negotiations, the property was subsequently leased at a rent of $88,000 per annum + outgoings + GST on an initial 5 year term, which represented a 20.29% increase in rent from the previous lease
  • Final result being 6.86 times quicker than market average

the facts

market average

0

DAYS on market

  • RESULT
0

days on market

  • difference
0
.86

TIMES QUICKER

Campaign performance

No Data Found

DAYS ON MARKET

No Data Found

DAYS ON MARKET

market EXPECTATION

  • RESULT

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

Leased 447-453 Victoria Street

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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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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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