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Transforming Vacancies into Vibrant Spaces: A Leasing Success Story by Alma Property

Updated: Jul 3

90 Markeri St, Mermaid Waters

At Alma Property, we thrive on turning real estate challenges into opportunities. Our recent appointment at a local convenience centre exemplifies our commitment to revitalising spaces and connecting businesses with their ideal locations. When approached by our client facing upcoming vacancies and potential tenant attrition. We embraced the task and brought our leasing expertise to the forefront.

Understanding the Challenge

The heart of our challenge lay in filling two crucial vacancies left by the departure of the iconic Yuen's Fresh Fruit and Vegetable market and adjacent café. After two decades of successful operation, the Yuen's changed ownership. Only to close its doors shortly after under the new management. Alma Property was entrusted with the responsibility of revitalising these spaces and breathing new life into the centre.

Crafting a Winning Strategy

Our leasing strategy encompassed a multifaceted approach that included both innovation and adaptability. Recognising that previous retail model might need a fresh perspective. We looked beyond the conventional and explored alternative possibilities. Our team embarked on a journey to not only attract potential fruit and vegetable retailers. But to also consider the potential of transforming the space into a medical and health-related establishment.

A Comprehensive Campaign

With our strategy in place, we launched an on-market campaign that aimed to showcase the potential of the vacancies to a wide range of businesses. This campaign was marked by our dedication to transparent communication. Backed by thorough market analysis and strategic marketing efforts. By leveraging our deep network within the property industry, we cast a wide net to attract diverse businesses interested in these spaces.

Success on Multiple Fronts

The results of our efforts surpassed expectations. Not only did we successfully secure new tenants for the centre, but we also repositioned two additional tenancies before they became vacant. The transformation was nothing short of remarkable:

A New Medical Centre:

Our efforts bore fruit when an experienced medical centre team were seeking to expand their practice. Choosing to join the centre, occupying a substantial 350+ square meters. This new establishment not only added a critical service to the community, but also injected vitality into the complex.

Café Culture Reimagined:

A café operator seized the opportunity to take over 128 square meters. Reinvigorating the café culture that was temporarily dimmed.

Italian Gelato Delights:

The local centre welcomed an Italian gelato shop. Utilising 45 square meters to serve up delectable frozen treats and adding a dash of sweetness to the shopping experience.

Beauty Redefined:

A beautician found their ideal space, a cozy 56 square meters, to offer their services. Enhancing the overall attractiveness and services offered within the centre.

Jason Cooke  - Commercial Leasing
Jason Cooke - Commercial Leasing

A Testament to Versatility

This successful endeavour highlighted the versatility and adaptability that Alma Property brings to the table. Not only were we able to reposition the primary vacancies, but we also effectively filled other spaces. Creating a domino effect of renewal throughout the complex.

At Alma Property, we take pride in our ability to envision the potential in every space. Connect the dots between businesses and locations. And ultimately, breathe life into properties that once faced uncertainty. Our comprehensive leasing services don't just find tenants. They transform spaces, invigorate communities, and catalyze growth.

Rudi Scutti - Director

If you're seeking a partner with a proven track record in reimagining commercial spaces. Bringing together businesses and locations for mutual success. Look no further than Alma Property. Contact us today to explore how our leasing expertise can unlock the potential of your property and elevate your real estate ventures.


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