ISSUE 168 | APRIL 2024 | 02 9630 8000 | PAGE 10 BAWDENS ASSET MANAGEMENT Asset Management – Maximising Property Revenue through Market Driven Adjustments Associate Director Asset Management Tony Youssef had been appointed to take over the management of a property that was initially self-managed by the owner under a gross lease. It was observed that no rent increases had been applied during that period. Recognizing the opportunity for an adjustment in line with market rates, Tony initiated discussions with the owner to implement a more competitive and current rent structure. Tony also recommended the client to transition from a gross lease to a net lease which will ensure a fair distribution of costs between the owner and the tenant. Under the previous self-management, the tenant paid a fixed rate of $129 per square metre, amounting to $55,728.00 per annum gross plus GST. Following the renegotiation and the shift to a net lease, the tenant is now responsible for a base rent of $171 per square metre, approximately $40 per square metre for outgoings. This restructuring resulted in a significant increase in rental income for the owner, with the tenant now paying $91,072.00 per annum gross plus GST. The transformation not only brought the property’s financial arrangements in line with market trends but also demonstrated the positive impact of strategic lease management on overall property revenue. Simply search ‘Bawdens’ on Facebook. Like us on Facebook • Stay informed: view our monthly Industrial Property News, weekly Market Brief and bimonthly Commercial Property News & Property Investor News • Find out what transactions we have just completed • Be up to date with the current market offerings FOR LEASE Parramatta 138m2 approx. Office in the Heart of Parramatta • Air-conditioned • Partially furnished • Proximity to Parramatta CBD • Secured car park • Onsite amenities and kitchenette • Partitioned offices • Main Road exposure Anthony Barbanera: 0410 914 662 Bawdens use their e-cloud technology to complete behavioural marketing that identifies the buyers or tenants who will pay the highest price or rental. We are Sydney’s only Industrial Agency utilising behavioural marketing. MARKETING Where it all came from Internet Bawdens IPN Signs Clients 21% 30% 45% 4% FOR LEASE Lidcombe 225m2 approx. Modern Office/Warehouse • Short walk to bus and train station • Ground floor reception/showroom • After hours security gate • Easy access to Sydney’s arterial road network Terry Saba: 0416 175 009 Simply search ‘Bawdens_RealEstate’. Like us on Instagram • Stay informed • Find out what transactions we have just completed • Be up to date with the current market offerings
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