17-29 Glasshouse Rocks Road, Narooma.

Client: Private Owners/Developers

Objectives:

Prepare, implement and execute a marketing package to secure pre-commitments for three (3) industrial units planned for a 18,400sqm vacant block of land.

Strategy:

The property is positioned within an emerging industrial and bulky goods precinct.  Given the blocks size, zoning and significant main road frontage it was determined that the highest and best use would be a bulky goods showroom. To achieve this outcome for the client we completed the following;

• Analysing the demographics of the main and secondary trade areas to identify potential businesses that would benefit from the properties attributes;
• Prepare and implement a marketing campaign to target local, national and government businesses that would meet the desired outcome for the property;
• Ensure that rental and outgoing rates would meet the feasibility criteria for the project, be sustainable for the intended tenant, and also meet the clients desired financial outcomes from the property;

The marketing program included online advertising, onsite signage and direct contact with potential tenants.

Team: Dan Greenlees

Critical Path:

• Prepare and implement the marketing program which consisted of online advertising, onsite signage and direct contact with potential tenants;
• Negotiate and secure pre-commitments for all three (3) tenancies;
• Incorporate each tenants specific building requirements into the building plans;
• Ensure all building requirements had been met and the tenants had fulfilled all legal obligations prior to handover;
• Handover to tenants for fit out.

Outcome:

Pre-commitments were secured for all three (3) tenancies at rental levels that met the feasibility criteria to proceed with construction. The tenancy mix was comprised of two (2) long established local business and one (1) government agency. The construction program was commenced and completed on schedule with all three (3) tenancies successfully handed over to tenants to commence fitouts.

Greenlees Property has also been retained to provide the ongoing management of the asset on behalf of the local owners / developers.