GrayJohnson purchased the Gertrude Street property on behalf of a client in 2012 for around $7.2 million.
Through strategic planning and a major refurbishment program, we have increased the income to $800,000 pa Net.
A part of our overall leasing strategy was to provide high quality alternative office/retail space with a diverse range of sizes available.
The property is now 100% leased with high profile tenants including Space Between Creative and Bower House Digital.
We believe this valuable commercial asset has excellent long term potential with rentals likely to appreciate substantially over the next 2-3 years.