A vacant 6,659sqm site. No income and the quarterly cost of rates and land tax, with a land value of $2.5M plus holding costs. The owner was at a loss as to how to move forward. A pre-commitment would be ideal however there had been no obvious targets to engage with.
Form a project leasing and development team to deliver a quality, generic industrial building that would have broad appeal to the market and deliver a positive cash flow return for the investment owner.
The project team involving the leasing agent and a construction project/development manager delivered for the client a 2,800sqm concrete tilt panel, warehouse building. The team secured a new tenant with a strong National platform on a 10 + 5 + 5 year lease. Trident’s client were an interstate group and they relied heavily on their team of consultants to create a highly successful investment outcome. Trident’s client are undertaking more industrial projects similar to the Business Drive development.