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    333 Exhibition Street

    • Melbourne VIC

    • NLA 6,528sqm

    • Purchased March 2011 • Sold February 2013

    • IRR 14.8%
    • TR 27.8%
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    Strategy

    333 Exhibition Street is located in the north east sector of the Melbourne CBD. The building was 100% occupied by Telstra Corporation.

    Activities

    Late 2011, extensive upgrades were completed to the ground floor entrance and lobby. Substantial renovations were also completed to the top floor of the building while the tenant was in occupation. This demonstrated the high standard of accommodation that could be achieved without disruption to the tenant’s operations.

    We worked closely with Telstra throughout this period to ensure that their needs were understood and met.

    Outcome

    The capital value increased after the purchase of the property as a result of rental increases, building upgrades and Telstra’s lease renewal.

    This property was sold in Feb 2013.

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