Project Highlights Successful acquisition and later divestment of a commercial asset
Project Value TBC
Project Timeframe 2015 - 2016
In 2015 ICD Property acquired a 9,057sqm site recently refurbished into a two-level gymnasium with generous frontages to Bay Road and Avoca Street. Leased to Fitness First, the world’s largest privately owned health club, ICD purchased the Bay investment with JV partners Wingate and held the asset for 2 years before onselling it.
Known for their exceptional property development track record, unique risk and management culture, reach, and influence – Wingate have since become trusted and valued partners to ICD. With aspirations to always partner with the best in the industry, ICD are proud and honoured that this project signified the start of a successful ongoing relationship with Wingate.
ICD’s champion financial team identified the site as a strategic purchase due to property market trends and the positive investment allowed ICD to benefit investors as well as use profits to fund later projects.
This is ICD’s first investment property with rezoning opportunities and we currently have a major long-term tenant, Fitness First, in place.
ICD’s highly informed and strategic project choices appeal to joint venture partners keen to benefit from our market knowledge and reduce their risks.
Our culture is based on the exchange of good ideas and constant dialogue between all members. If you share our egalitarian and creative approach to work (and life), contact us today.
Level 18, 303 Collins Street
Melbourne VIC 3000
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