1.Location: PLUMER ROAD SHOPPING VILLAGE, DOUBLE BAY
Problem/Opportunity: Dated strip-style centre was losing custom with four empty shops adding to its forlorn look.
Scope of services: Retail leasing and strategic retail planning to enhance the existing retail mix and transform the retail shopping experience offered at Plumer Road Shopping Village, Double Bay.
Result: Complete transformation of the shopping village with 15 shops now occupied and returns to Owner up 100%.
2. Location: 55 GRAFTON STREET, BONDI JUNCTION
Problem/ Opportunity: Review the true value and long-term opportunities, of a property which was available for sale by tender. Advise client whether to make an offer, and if so, what it should be.
Scope of services: Conduct a feasibility & market analysis of the property and the condition of its major services (including air conditioning and lifts), to assess the potential for income and market value growth. Proactively engage in leasing negotiations to increase the total rent collected and upon client purchase of the building, building management to improve the state of the office building.
Result: On Krulis Commercial’s advice the client purchased the building for $16 million. Within 12 months of building management & lease re-negotiations by Krulis Commercial the building was re-financed and re-valued at $24 million – a 50% increase in its value.