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the facts

232
BRIDGE ROAD

RICHMOND

Sold 232 Bridge Road Richmond TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the challenges and the reveal!

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232 Bridge Road Richmond Sold TCI

THE PROS

  • Well presented property renovated on both floors
  • Separate entrance to first floor office
  • Located directly opposite Richmond Traders
232 Bridge Road Richmond Sold TCI
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 
232 Bridge Road Richmond Sold TCI
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

  • The Lease terms were onerous in terms of achieving the best sales result i.e. the terms of the Leases were small, while one tenant had multiple single year options
  • The rents were below market rentals
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond
TCI Sale Sold 232 Bridge Road Richmond

THE CHALLENGES

  • We were aware that four neighbouring shops had been sold for circa $6,500 per m²
  • The same Purchaser approached us to buy 232 Bridge Road and it was essential to create a narrative that supported our expected price, which was considerably higher than those just purchased
  • We identified reasons to justify the price differential and proceeded to negotiate with the potential Purchaser, focusing on while the property was worth less today, the Vendor was not on market and they could achieve their expected price, in a few years when there was more flexibility on the Leases
232 Bridge Road Richmond Sold TCI
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 
232 Bridge Road Richmond Sold TCI
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

  • After a short off market campaign, TCI sold the property to the neighbour, for $2,523,000 – which equated to $12,300 per m²
  • Market expectation was approximately $6,500 per m²
  • Final result being 89% above market expectations

the facts

market expectation

$
0
k

PER M²

  • RESULT
$
0
k

PER M²

  • difference
0
%

higher

Campaign performance

No Data Found

PER M²

No Data Found

PER M²

RATE

market average

  • RESULT

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 bridge road

sold 232 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.

© 2024 TCI Property – All Rights Reserved

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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