ISSUE 173 | SEPTEMNER 2024 | 02 9630 8000 | PAGE 10 Vacancy Rate by m2 Vacant Properties Managed 0.7% FOR SALE Somersby 160m2 -540m2 approx. New Industrial Warehouses in the Central Coast • Premier Industrial Complex • Invest or owner occupy • High internal clearance for all units James Zerefos: 0400 326 828 Victor Zerefos: 0416 047 288 For the latest media releases & market trends visit our website www.bawdens.com.au 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 Asset Management Vacancy Rate Office Industrial Retail 3.28% 0.59% 3.57% BAWDENS ASSET MANAGEMENT BAWDENS ASSET MANAGEMENT Skilled Asset Managers Negotiate Favourable lease terms The commercial real estate landscape is filled with both astute investors and sophisticated large corporations. All looking to negotiate favourable outcomes, for this reason the significance of having knowledgeable and skilled Asset Managers to negotiate lease renewals cannot be overstated. The expertise of Asset Managers can make a substantial difference in securing favourable terms for property owners and tenants alike. One case is Bawdens Director Tony Youssef’s recent negotiation on behalf of a valued private client with a national tenant who exercised their option to renew the lease. The rental, negotiated 5 years ago in a weaker property market was sitting at $137sqm net plus outgoings and GST. The increase achieved for our client was $200sqm plus outgoings and GST. This case highlights the critical role of experienced Asset Managers in navigating complex lease agreements. During the lease renewal process, the parties involved were initially at odds regarding the rental terms. This is a common occurrence that can lead to prolonged disputes and potential financial losses if not handled correctly. Tony’s approach involved thorough market research and strategic negotiations to bridge the gap between the tenant’s expectations and the clients’ requirements. By leveraging his extensive knowledge of market trends and rental values, Tony was able to present real time data that facilitated a mutually agreeable outcome. It is important to employ a skilled Asset Manager who possess a deep understanding of market dynamics and negotiation tactics. Their ability to conduct detailed market analysis, coupled with adept communication and negotiation skills, ensures that both landlords and tenants can achieve their objectives without compromising their interests. Tony’s ability to secure a fair and favourable lease renewal demonstrates the value that experienced Asset Managers bring to the table, fostering positive and productive landlord-tenant relationships and ensuring the long-term viability of commercial properties. EOI Stylish Boutique Self Contained Office • Nearby cafe’s and restaurants • Two (2) parking spaces • Two (2) balconies • Flexible mixed-use zoning Barry Johnston: 0412 606 030 Jarrad Love: 0408 817 025 North Sydney 107m2 approx.
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