Address: 2 Percival Road, Smithfield
Sale/Lease Date: February 2020
The Property: A flexible and functional industrial space ranging in size from 1,971m² to 30,882m². The property offers large power supply, gas and potential for additional hardstand. Located on a prime corner with great exposure.
The Challenge: Since July 2018 the owners have substantially refurbished the property which include some demolition works, replacing the roof on approx. 13,000sqm, extensive external hardstand works, splitting services and facilitating the building to be leased in multiple tenancies. The challenge was to market the property across a broad range of sizes that would change the scope of works to be undertaken depending on what commitments were secured.
The Process: As part of an extensive marketing strategy, we utilised a combination of online and physical media accompanied with extensive canvassing of our database.
The implementation of the varied media platforms such as signboards, online listings and Linkedin posts allowed the team to cover all prospective occupiers and ensure they were prepared for any challenges that arose. The Colliers team collaborated closely with the client to make decisions along the way to commit necessary and utilized strategic marketing in order to find a suitable tenant for the premises.
The Result: This allowed our team to make use of the relationship already established with the owner when we sold them the site in order to act on their behalf as leasing agents securing tenants for 30,882sqm of building over five tenancies over an 18 month period. Our experts were able to negotiate a favorable transaction for the client, maximising the potential of the property to accelerate their success.