973 Nepean Hwy, Bentleigh
Jan 2013 Purchase Price
Aug 2015 Disposal Price
A high exposure office building with large floorplates and potential for substantial asset growth through the implementation of intensive site upgrades.
973 Nepean Highway, Bentleigh was a significant asset with sound fundamentals however was badly in need of a hands on management approach. Bayley Stuart played the role of Property Manager, Leasing Agent and Selling Agent to ensure the potential of this asset could be realised.
Transaction Analysis from Acquisition to Disposal
Past performance is not a reliable indicator of future performance.
Background and Opportunity
The asset comprised an 11,956m² (approx.) office building over five levels, with 340 car parks over two basement levels and at grade.
Bayley Stuart meticulously improved the asset through the implementation of an intensive management plan from the ground up, followed by a re-leasing program to retain existing tenants and seek high quality new tenants at improved rental levels.
We initially focused on improving property management systems and working with existing tenants on transforming the building image, which was enhanced by a major lobby upgrade with a new lift installed to service the basement car park.