We provide Advocacy and Asset Management Services directly to private clients to assist the acquisition and management of investment properties:
- We will identify a commercial property investment which meets the investment criteria of private client;
- We will lead Due Diligence investigations and purchase negotiations;
- We can procure competitive senior bank lending to assist with the investment funding;
- We have a proven track record in the active asset management of Office, Retail and Industrial Properties which has led to significant increases in asset values;
- We can provide a full suite of management services that encompasses all aspects of Asset and Property Management;
- We can tailor financial reporting to suit the clientʼs requirements;
- We will deliver a team of experienced personnel that will ensure coverage of all required aspects of the management of the property. Terraplex has long term relationships with commercial builders and fit out consultants who are regularly undertaking add value works to our existing portfolio; and
- We will develop asset strategies to maximise property value.
16-18 Cato Street, Hawthorn East
Purchased in February 2017 for a private client for $24.7 Million, Terraplex will act as Trustee and Asset Manager of the Fund.
The Property was constructed in 2004 and enjoys a modern street frontage. The property comprises three levels of basement car parking and three levels of office accommodation, constructed in 2004. The building has large efficient floor plates of up to 1,975m2, an NLA of 5,295 m2 and provides high quality office accommodation with an excellent parking ratio. The site area is 2,269 m2.
The property provides a compelling opportunity for our client to invest in a securely leased asset located in Melbourne’s inner East. The key investment features which attracted our client were:
- Highly rated suburban office location in Hawthorn East;
- Off market purchase opportunity;
- Buying at a land and buildings rate/m2 at below $4,600/m2 which was below replacement cost;
- Modern building with flexible design for future remixing;
- Fully leased to Bunnings Group Limited, a wholly owned subsidiary of the ASX Listed Wesfarmers Limited (WES) with a 5.8 year WALE;
- Rent for building is well below market therefore there is potential for significant rent reversion and value capture to be gained in the future under a new lease;
- Minimal capital expenditure requirements; and
- Two street frontages, proving excellent natural light.
675 Victoria Street, Abbotsford
Purchased in February 2017 for a private client for $20.4 Million, Terraplex will act Trustee and Asset Manager of the Fund.
The Property comprises a stand-alone three level office building .The property comprises two levels of basement car parking and three levels of office accommodation, constructed in 1987 and and refurbished several times since. The building has large efficient floor plates of up to 1,739m2, an NLA of 3,747 m2 and provides high quality office accommodation with an excellent parking ratio. The site area is 3,459 m2.
The property is located on a north facing edge of the Yarra River in a secluded corner of Abbotsford, adjacent to Victoria Gardens Shopping Centre, Kew Parklands and only 4.5kms from Melbourne’s CBD.
The property provided a compelling opportunity for our client to invest in a commercial building with good holding income which has clear medium term “value add potential” as a prime residential redevelopment site. The key investment features are:
- Highly rated suburban office location in Abbotsford;
- Currently 53% occupied to Cockram Constructions and Edwise Insurance – the remaining available space on the top floor is readily leasable following minor refurbishments works;
- Site is located on the south bank of the Yarra River and has a prime northerly aspect. It has future long term redevelopment potential as a luxury residential project; and
- Land and buildings can be acquired at or below current replacement cost, indeed based on current sales we estimate it can be acquired at or below current land value. This is very rare and provides a compelling reason for acquisition.