Situation

  • The tenant of an office property was occupying on a rent significantly below market levels
  • There were repeated incidents of non-payment of rent

Action plan proposed

  • Serve notice to terminate the lease at lease end, and settled a sum to cover some of the eviction costs
  • Carry out renovation works to the offices
  • Market the property to secure a new quality tenant at a substantially higher rent

Result

  • The existing tenant departs
  • Renovation works completed to enable the offices to be re-leased
  • Offices leased to a new tenant for a rent 7 times higher than previous level
Revalorisation locative - Boetie Partners
Revalorisation locative - Boetie Partners
Revalorisation locative - Property management - Boetie Partners