Leased 466 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!
General market negative sentiment associated to Bridge Road leasing
Our goal was to secure a single commercial lease for the entire building, rather than two separate commercial and residential leases for each floor, where outgoings would not be recoverable under a residential lease
Securing a separate residential lease would be much easier than a single commercial lease for the entire building
THE REVEAL
Within 5 weeks, TCI leased the entire building on a single commercial lease at the asking rent of $70,000 per annum + outgoings + GST or $368/m2 net on an initial 5 year term with no incentive provided to the tenant
Final result being 5.73 times quicker than market average