This 30 year old, Andrew Baxter Drive property is in a highly sought after location, right by the Airport. With 1500sqm utilised for warehouses and offices, the remaining 2500sqm of the property is ripe for development.
Seeing this opportunity the new landlords bought the property 18 months ago. We already had a successful relationship with them as property managers of other properties they own. When they added Andrew Baxter Drive to their portfolio they asked us to take it onboard as well.
Recently, the existing tenants who are leaders in cargo handling and load restraint systems were taken over by a large American Company who planned an immediate upgrade to the building. When the carpet was pulled up we discovered water damage. It had caused issues to the flooring, but more worryingly, it also indicated a problem with the window seals.
Discovering hidden issues in older buildings is unfortunately not unusual. In these situations addressing the cause promptly ensures that further damage (and subsequent costs), don’t arise.
We quickly raised the issue with the landlords and on their agreement researched and found the best suppliers who then had to custom make and install nearly 80 windows. Although it was an expensive exercise we ensured that the most cost effective solution was found, and mitigated the risk of further damage to the property.
The tenants are relieved that the situation was addressed before their products were affected and the landlords have accepted that these things do happen as part of property management.They are pleased that it is a long-term investment that is well managed and will be in good shape when they are ready to take the next steps with the property.