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To reposition, refurbish and re-lease a two-tenant building that vacated
The timing of the asset vacancy spanned during the Covid-related restrictions, so face-to-face dealing and availability of contractors were limited, causing the process to be protracted.
By repurposing existing fit-outs with minimal expenditure compared to undertaking speculative fit-outs, we successfully reduced the expected time and costs associated with procuring replacement tenants. This approach shortened our planned letting-up periods and provided additional cost savings, which were invested in tenant incentives.
The asset has been further de-risked by being leased to seven quality tenants with various lease expiries, providing a stable rental income and growth
