Following a change to Swimart’s national business model, the local operator found themselves occupying double the required floor space.
The landlord wanted to retain Swimart who had been a strong tenant, and turned to Ray White Commercial Bayside to consider options and propose a solution.
We engaged a qualified Project Manager to redesign the available space with a view to creating two smaller tenancies – one ideally suited to the meet the new Swimart model, plus a second surplus tenancy that would be offered for Lease upon completion.
During the ‘craziness’ created by the Covid building boom, Ray White Commercial Bayside, together with the Project Manager, successfully completed the building upgrade (including disability compliance) and delivered a spectacular new outlet for Swimart who negotiated a new 5-year lease term.
We were also able to secure a new tenant for the Redlands, Independent Living Specialists, who also committed to a new 5-year term on the freshly created tenancy.
Through creative thinking and clever planning, the team at Ray White Commercial Bayside were able to secure an improved cash flow for the landlord with high quality tenants on long-term leases; achieved with a minimum of interruption to the existing centre trading. A great result for all involved.
If you’d like a strategic partner to help your commercial property investment reach its maximum potential, call the award-winning team at Ray White Commercial Bayside today.
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