Ricketts Road

Commercial Repositioning in Mount Waverley

Location 88 Ricketts Rd,
Mount Waverley
Project Type Commercial
Land Size 1.81Ha
Building Size 10,382sqm
Completion Date 2015
End Value $16m
Enquire Ricketts Road
Location 88 Ricketts Rd,
Mount Waverley
Project Type Commercial
Land Size 1.81Ha
Building Size 10,382sqm
Completion Date 2015

Located in a blue-chip suburban commercial precinct,
 88 Ricketts Road features 18,000sqm of business-zoned land comprising a four-level 4,000sqm office building and a 6000sqm warehouse. The property was purchased as a high yielding long-term investment with strong underlying land value.

A revitalised internal atrium activated the space into a new vibrant hub for tenant amenity and interaction.

The strategy on acquisition was to rebrand and reposition the 1980’s buildings with upgrades to several main services and cosmetic enhancements to increase occupancy. With a strong focus on active asset management and marketing, Up Property secured new tenants, and saw the property sell in 2015 with 100% occupancy and a WALE of approximately five years. The property derived income from 11 different tenants, including major brands such as Bluescope Steel and Try Australia.

New large scale wayfinding signage created stronger presence for tenancies, and easier navigation for visitors.
"Through modernising infrastructure services and interiors, we were able to strategically rebrand and reposition the commercial premises, and ultimately able to sell with over 90 percent of the premises leased." Adam Davidson Managing Director, Up Property

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