the facts

THE MOUNT & CLIFTON HOLDINGS

35 - 37 mount , 42 clifton & 44 clifton street

PRAHRAN

Sold 42 Clifton Street Prahran TCI - An in depth look behind the scenes of the campaign. We'll explain the pros, the cons, the challenges and the reveal!

THE PROS

Located just off Chapel Street, near the Windsor end – which had become a hub for lifestyle and food tenants
Falls within the recently drafted Chapel Street Activity Centre Land Use & Framework Plan – which promoted and clearly identified, the development potential of this property and those nearby
Flexibility under the Lease, with a 12 month notice to quit clause, that could be exercised at the time of the campaign

THE CONS

Price was high on both a land and building rate – thus making the sale to an owner occupier difficult and highly unlikely there would be any developers interested
Proximity to Government Housing located on King Street, circa 200m away
Dated property and fitout
The surrounds were mostly older warehouses, with limited ground floor traffic, or any destination side street tenants e.g. cafes

Sale Mount Clifton Holdings 42 Clifton Street Prahran Real Estate Prahran Development Commercial Real Estate TCI The Mount Clifton Holdings Part 1 2 3

THE CHALLENGES

Land rates were circa $8,000 per m²
Expected price was high in comparison to recent sales
Marketing narrative focused on the shift towards the Windsor end of Chapel Street and recent move towards lifestyle and food tenants – who were the best sector of the market
Further focused or creating a link between prior retail sector boom and correlating this to the food and lifestytle sector

THE REVEAL

After a short but detailed campaign process, TCI sold 42 Clifton Street for $2,500,000 – which equated to $11,574 per m²
Market expectation was circa $8,000 per m²
Final result being 45% above market expectations

the facts

market expectation

$

0

k

PER M²

RESULT

$

0

k

PER M²

difference

0

%

higher

Campaign performance

PER M²

RATE

market average

RESULT

the facts

THE MOUNT & CLIFTON HOLDINGS

35 - 37 mount , 42 clifton & 44 clifton street

PRAHRAN

THE PROS

THE CONS

THE CHALLENGES

THE REVEAL

the facts

market expectation

PER M²

PER M²

higher

Campaign performance

PER M²

PER M²

RATE

market average

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

sold 42 clifton street

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