True Value-Add Transaction: Transforming 4 Ozkleen Place, Yatala

A Value-Add Transaction. Crew Commercial has successfully leased 4 Ozkleen Place, Yatala. The 7,203sqm site with an 830sqm warehouse/mechanical facility had been utilised as a specialised transport facility for over 20 years.

The Gold Coast industrial property was acquired off market and could be described as quite run down having had the previous business close. The property included a broken truck wash, 20 years of dirt and grease, tired and dilapidated office and amenities as well as faulty electrical wiring.

Crew Commercial was appointed as the exclusive real estate agency to source a new tenant prior to the upcoming settlement of the property. The new purchasers were looking for a long term tenanted investment for their super fund and were willing to take the risk of a vacant property in a low vacancy rental market.

Prior to the upcoming settlement a full site renovation was undertaken to repair, clean and restore the site. Crew Commercial received 29 enquires during the leasing campaign resulting in three written offers.

A five year lease was negotiated at a rental rate of $285,000 plus outgoings plus GST with the leased executed within two days of the property settling. By securing the property vacant the new purchasers were able to achieve a 7.5%+ yield with no vacancy time.

Dave Kertesz from Crew Commercial was able to provide the right advice throughout the process including leasing valuations based on comparable industrial property transactions. His market knowledge and expertise created a successful lease campaign which ultimately led to an outstanding outcome for the new purchasers.

In addition, Crew Commercial have been appointed to provide the commercial property management services on a long term agreement. A detailed site inspection report was undertaken to ensure the site met all council and compliance regulations and the landlord can now sit back with a new tenant knowing Crew Commercial property management are handling their Gold Coast commercial asset.

In conclusion, the successful leasing and transformation of 4 Ozkleen Place, Yatala stands as a testament to the power of a commercial value-add transaction. Through meticulous planning, strategic advice, and dedicated efforts, Crew Commercial turned a run-down industrial property into a thriving investment opportunity for the new purchasers. The achievement of a 7.5%+ yield with no vacancy time showcases the potential rewards that can be reaped through value-add strategies in the commercial real estate market.

Dave Kertesz's expertise and market knowledge played a pivotal role in this exceptional outcome, providing valuable insights and leasing valuations that drove the successful lease campaign. As Crew Commercial continues to manage the property on a long-term agreement, both landlords and tenants can rest assured that their Gold Coast commercial asset is in capable hands.

The journey of 4 Ozkleen Place exemplifies how a true value-add transaction can breathe new life into commercial properties, delivering benefits for all stakeholders involved and paving the way for future growth and prosperity in the dynamic commercial real estate landscape.

See Dave Kertesz's Profile & Contact Details