Melbourne Acquisitions is offering asset management as an after-service for clients, cementing its trusted advisor role in the Melbourne commercial property market.
Melbourne Acquisitions' commercial property manager, Elaine Hong, told The Real Estate Conversation, "We're very big on relationships and building for the long term. I think Steve Messina and (company founder) Dominic Gibson and the team are regarded as really trusted advisors, and the next step for them is to establish the asset management business."
The intention is to help clients, not just through the sale and acquisition process, but to help them manage the property over the longer term.
"We provide commercial property management services and facilities management," said Hong, listing their services as keeping contracts up to date, making sure essential services are in place, reducing the owners' risk, adding value to the property, and identifying areas that can be improved, such as set up, or changing the way leases are drawn up.
"We do all the other commercial management tasks that need to be done," said Hong, such as "making sure rent has been collected, reviews are done, market reviews instigated, and debt collection, if required."
Hong said communication is absolutely key to her role. She provides "ongoing communication between the owners, tenants and contractors.” Her favourite part of the role is keeping tenants happy. "If the tenant's happy, the owner's got to be happy," she observed.
"I am proactive. I go to sites often. I don't manage it from behind the desk. We try to make our presence known when we're there, and introduce ourselves, so people feel they do have someone to talk to." Melbourne Acquisitions also has a help desk through which tenants can log maintenance requests.
Hong said she works closely with Gibson and Messina. "We are highly regarded for that (personalised service) because everyone here is a team, and hands on," she said.
The company provides a very high level of service, according to Hong. All the contractors Melbourne Acquisitions uses must provide excellent service. "It's not just about saying we're providing a service and not delivering it," she said. "We have to actually resolve."
Melbourne Acquisitions already has four landmark properties under management, including The Duke of Wellington on Russell Street, the Greenwood Business Park at 301 Burwood Hwy, Burwood, and two buildings at 88 Rickets Road.
The tenants are diverse, and include the administration arm of Deakin University, Telstra, international tyre supplier YHI, and TRY Australia, a not-for-profit that helps parents find employment and upskill.
Clients have built up deep levels of trust in Melbourne Acquisitions, said Hong, through the delivery of high levels of service and open communication. "They trust us," she said.
Hong believes that Gibson and Messina have built a strong business based on their proactive, service-intense approach. "I have to admit, the boys do it very well," she said.
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