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the facts

Suite 114, 91
Murphy Street

RICHMOND

Leased Suite 114/91 Murphy Street 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 114 91 Murphy Street Richmond TCI Lease Leased

THE PROS

  • Ground floor location providing street exposure and ease of access for deliveries
  • Open play layout
  • High clearance ceiling
  • On-site parking for 2 cars
  • Shared loading bay facilities
  • Shared end of trip facilities
  • Affordable rent
The Facts 114 91 Murphy 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 Facts 114 91 Murphy 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

  • Located in an Industrial pocket – there is limited amenity and transport access
  • Zoned Industrial 1, which precluded retail and some office uses
  • Construction was completed in 2007 – exterior of building reflects that in design and can appear dated
  • Murphy Street is difficult to find on-street parking, for customers visiting the property
The Facts 114 91 Murphy Street Richmond TCI Lease Leased
The Facts 109 91 Murphy Street Richmond TCI Lease Leased
The Facts 109 91 Murphy Street Richmond TCI Lease Leased
The Facts 109 91 Murphy Street Richmond TCI Lease Leased
The Facts 109 91 Murphy Street Richmond TCI Lease Leased

THE CHALLENGES

  • TCI took over management of this property with the existing tenant vacating in 2 months
  • The property was damaged/worn from previous use and required a refurbishment in order to present in the best possible light to market, including painting and patching of walls and re-polishing of the concrete floor
  • The works could only be conducted after the existing tenant vacated
The Facts 114 91 Murphy 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 Facts 114 91 Murphy 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

  • Prior to public marketing and undertaking the proposed refurbishment, TCI referred prospective tenants from our database and leased the property ‘off market’ at the asking rent of $29,000 per annum + outgoings + GST
  • We successfully negotiated for the tenant to undertake the refurbishment works at their own expense, which also included the installation of a shower
  • Final result being 332 times quicker than market average

the facts

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  • RESULT
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DAYS ON MARKET

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market EXPECTATION

  • RESULT

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy Street

Leased 114/91 Murphy 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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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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