Kennards July eKourier

PROPERTY PR PERTY

SPOTLIGHT ON GUILDFORD

14 Kennards Kourier July 2021 This is an ex journey. The to test, param Guildford Team Kaio Tang & Cristina Mihaila The results s achieving his strong rates income. At th more time to and centring product. As a result, e price of more anticipating f to competito in the marke rent increase to support o maintain pro T he Guildford centre is situated on busy Woodville Road, with a secondary entry via the Golfview Bar and Restaurant. The base of the centre looks out onto the Woodville Public Golf Course, so during a Lock Check it would not be uncommon to find the odd stray golf ball or hear the distinctive sound of a golfer teeing off. Operating since 1985, Guildford is a spacious centre with a varied mix of unit types. It offers Enterprise Spaces, Outdoor Parking, Lockers and plenty of Drive-up Units. Guildford is currently an expanding centre. Phase One of the expansion completed and opened in February 2021, adding 547 new units across three floors. What was once mostly low-lying, open parking spaces for trucks and buses, is now a building that rises above Woodville Road to give improved visibility and exposure. The Team operates out of the new upgraded office, which provides generous floor space to display merch. The centre presently has a total of 904 units with 9,321sqm of rentable space. In recent months the centre has seen excellent growth in some key areas. Merch sales have gone up and since opening the new building, occupancy has grown an average of 243sqm per month. ‘ jective of Revenue Manage- not to increase occupancy, to push rates. It is finding the alance between the two of them mise revenues. Yes, maximise es! a complex game that requires g several variables, like histor- mand, el sticities, prices, ality, trends, demographics, tures, days on market, length competitive data, and many that a single person (or even an Guildford is located in the western suburbs of Sydney. The centre benefits cal portion but a great deal of tanding our customers and rket, trial and error, heaps of y, adaptability, daily judgment nstantly taking controlled risks. evenue Manag men (RM) started in d, I keep getting questions (good one venue Management System. Albeit it anagement, but I thought I would sha H The new design modification also introduces a diner-style booth where customers can Wi-Fi hotspot whilst they sip on coffee they’ve made in the connecting kitchenette. THE CENTRE PRESENTLY HAS A TOTAL OF 904 UNITS WITH 9,321SQM OF RENTABLE SPACE ‘ from Guildford’s residential mix of houses and low-rise apartment blocks, as well as its small pockets of commercial sites. A significant portion of the customer base are local small business owners who wholesale their goods to shops and markets. Customers can have their container of goods delivered to the centre from overseas and store them in one of the several Enterprise Spaces available. The current Team are Kaio Tang, Centre Manager (top left), and Cristina Mihaila, Assistant Manager (top right). Kaio joins Guildford from Wetherill Park and brings a fresh perspective that is complemented by Cristina’s almost three years experi- ence and knowledge of the centre and its customers. The challenge for the Team is to sustain occupancy growth and fill up the new building as quickly as possible in readiness for the next phase of the expansion.