43 Elizabeth Street, Melbourne
Post acquisition in 2000, Vantage managed an extensive refurbishment program including cosmetic changes to the ground floor foyer and an overhaul of the building’s outdated operational system. Reconfiguring the foyer provided greater retail exposure and enhanced income potential. Vantage secured long-term leases for all retail areas and increased the building income by 250%.
Purchase price:
$4.1 million
Sale price in 2013:
$15.5 million
Hold period:
13 years
Net gain for investors:
224.90%
Total return for investors:
17.3% per annum