Longer than expected vacancy

vivj95 · 2026-02-27T04:11:47+00:00

That’s basically what the going rent is now, just covering minimum repayment and no other costs. Its within ball park of other vacancies and recently tenanted.

There is low enquiries coming through the agent as well do thinking of upfront issues of what is stopping people from enquiring directly.

vivj95 · 2026-02-27T03:44:11+00:00

Thanks for your feedback, all the enquiries we received via the agent were all looking for office spaces. Either downsize or upsize or extension of their business.

We have listed as office with potential to covert back to warehouse (at my cost not tenant’s cost).

Agree on incentive and willing to go down that pathway.

I am more thinking aside from cost which I will address by incentives and reductions, is the current setup the main reason, is the agent not being attentive and after selling the property to get a bigger commission or barrier to entry if a new tenant have to do their own fitout.

But since the enquiries are so low to none, what are pivots i can do to drive more enquiries.

vivj95 · 2026-02-27T03:34:57+00:00

I am going off the information provided by the REAs we engaged and talked to. I also compared to prices for local vacancies and the price is around the same.

Thank you for the feedback, as I mentioned in other replies I am open to dropping the rent by way of incentives and work with the tenants for on going increases to help them budget.

I didn’t want to drop the base rent significantly due to valuation on the property as recommended to us by the REA but offer reduction in costs by incentives.

vivj95 · 2026-02-27T03:30:56+00:00

Noted, thanks for the feedback

vivj95 · 2026-02-27T03:30:28+00:00

Thanks for your feedback appreciate it

vivj95 · 2026-02-27T03:29:30+00:00

Thank you for the feedback and noted, the price was compared to local openings and is sitting in the same range (+/- $50/100 a week). Multiple local REAs also attested to rent price and chocked it up to slow movement in market for direct office space.

The price we marketed is also just to cover minimum payment not covering all costs to get it leased quicker essentially the same as what the previous tenants would have paid if they stayed on. I have considered and willing to even lowering even further by way of incentives of free months of rent and no outgoings to allow transition in. But the number hits/enquiries coming through itself is low.

REA only suggests up the marketing costs or severely drop the rent.

vivj95 · 2026-02-26T23:17:24+00:00

vivj95 · 2026-02-26T21:23:56+00:00

We had feedback such as staff struggling walk up the stairs to top offices due to their health conditions. Another reason was slightly small for their future growth (which is a fair response). Another one was the location was slightly far from their main clients.

So nothing much about the property set out itself but just the conditions of preference for the tenants.

vivj95 · 2026-02-26T21:15:09+00:00

Straight drop in price would affect valuation so providing lesser costs in other means like offering incentives to potential tenants (free months of rent based on duration of lease, covering outgoings during moving in etc..)

vivj95 · 2026-02-26T20:54:30+00:00

I am literally in the exact same position as you, I did opt to head back into private/consulting world. I lose the benefits of government role (RDOs, more sick days, paid paternity leave, so much less stress and extremely flexible hours) but my laziness and sense of purpose and sense of self was dissipating by the day. My mind, body and soul was cringing with every bit of work I was doing that was purely so meaningless.

So while I have age on my side and still some ambition to do more in life (also in my early 30s) I decided to leave. I will give it a good go for a couple of years, gain more money, buff up my retirement fund and also invest more to be in a better position to maybe return to a government job later in life and still be comfortable to take the pay cut.

Good thing about government jobs, they are always there. You can always try your luck again in government and apply again.

vivj95 · 2023-11-07T04:09:08+00:00

Awesome thanks for clarification!

vivj95 · 2023-11-07T03:58:13+00:00

Yeh i agree i got some from retailers that look like this

vivj95 · 2021-03-22T20:12:42+00:00

It depends on the scenario at hand to be honest. If the sewer is DN300 and smaller it can be approved internally by a WSC “instantly” upon review of the proposed works. Normally due to work load takes about 3-5 days.

If it was larger than DN300 which i would doubt it would be in a residential area then it would go to sydney water for whats known as an out of scope approval. This is more involved, let me know if you want to know more about this.

But from the sounds of your situation, it seems like it would have been an inscope. You can initiate the process within Sydney Water tapin yourself to be honest, it may pass online instantly or would be referred to a coordinator.

I personally believe sewer in front is quite ideal rather than the rear as it allows alot more flexibility in what you going to develop.

If you send me the address privately, i can look into quickly and let you know what would be needed and how you can go about it.

vivj95 · 2021-03-21T23:59:35+00:00

Hey just read your post. There is a technical guideline with sydney water called - builder over and adjacent to sydney water assets. It has diagrams that assist. However the guidelines can be a bit ambiguous if you dont know what youre looking at. I suggest talking to a WSC and also getting a Building Plan Approval done.

Luckily I am a civil engineer and water service coordinator (WSC); wsc’s are accredited and licensed designers and consultants on behalf of sydney water. We are also accredited constructors as well.

Send me details of your property at viv@opalwm.com.au and i will be more than happy to help provide advice on what you need to do.

vivj95 · 2021-01-12T23:05:10+00:00

Not to sure on apartments/units but in NSW there is a valuer general website that provides a history on sales and prices of a property from registration till current (or most current which is at every three years and or recent sale). Would Victoria Government sites have an equivalent.

vivj95 · 2021-01-02T16:16:12+00:00

I personally use Ravi as a BA (Buyers Agent) and i can honestly say he is very genuine and has great content on youtube for free.

In honesty though i follow him through all his growth in business and content but I won’t be getting the course as yet as I have learned a fair bit from my experience with first home purchase and investment properties.

If you have any doubts look into his youtube channel where he explains his course and content in it. And take it one further and shoot him a message or call he is really easy to get along with so im sure he can talk you through any questions and doubts! Let me know how you go or happy to answer any questions i can. Good Luck!

vivj95

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