We were appointed to oversee this complex in 2002 when it was valued at 34.6million. Asset management initiatives followed whereby the complex was repositioned in the market. This involved numerous negotiated tenant surrenders and significant refurbishments to increase office rental from 8 to 16 per sq ft. The complex sold in December 2006 for 89 million.
Tenants: 103 plus 698 car parking licences
Uses: Industrial, Retail, Call Centre, Office Fast Food
Rent collection rate: 97% within 7 days of the due date
Service charge budget: 930,000 pa
Arrears on rent roll: 2%
2002 - 2006