Given our deep understanding of the client we were able to identify this office asset and then work through the investment lifecycle (acquire, reposition/release and divest) to deliver strong investment returns for our offshore client. We were able to utilise Urbis’ market knowledge and investment capability to develop a comprehensive strategy plan to underwrite the acquisition and deliver on a value adding plan.
The Property is a ~16,000sq.m office building located in the Melbourne CBD. At the time of purchase the building had an imminent expiry equating to 27% of building tenants (NLA).
We identified an opportunity to refurbish the building, benefit from an improving market and renegotiated the leases.
This refurbishment and releasing program resulted in an improved risk profile and repositioning of the asset in the market that enabled a 56% increase in value to be realised from the asset sale.
This investment delivered an IRR of 33% compared to a client target return of 10%.
Urbis identified an investment opportunity that aligned with our client’s objectives – and then executed a successful reposition, release and sell strategy for the asset.