47 WARNER STREET
This asset was a heritage building and had been semi-refurbished with a 50% vacancy. Structurally it was sound and in a good location with its close proximity to the CBD. Whilst others were perturbed by the high level of vacancy, we felt the total value had not been unlocked.
After purchase, focussing heavily on the interior, we bought in architects and interior designers: Richards & Spence. Their brief was to develop a creative space for advertising agencies and digital companies.
We installed air-conditioning and combined with the stimulating interior fully leased the building, doubling the rents in a 3 year period.
Fortitude Valley (5 mins walk to Brisbane CBD) QLD