In 2018 start to strategically target distressed or underperforming assets in the residential and commercial sectors of Australia.
21 Stokes Street, with its CBD location in Townsville, presented an opportunity for Thirdi Group to acquire an underperforming asset at ‘below’ replacement cost. With a simple upgrade and repositioning in the market this investment would deliver a low risk, high yielding asset to the partnership.
Renamed ‘Precinct 21’ the re-development plans include upgrades to the external façade and reinstallation of soft landscaping to planter boxes that currently wrap the building. This will be complimented by upgrades to the main entrance areas that will bring the properties appeal & amenity in line with other commercial tenancies in Townsville.
A key point of difference for the building will be the industrially inspired internal areas that we will make available to potential tenancies as this type of space is rare and in high demand.
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