Joint Venture

Trust at the heart of an exciting joint venture

The Brief

BWI Group was approached by the owner of an industrial site in Sydney’s inner west. The client had owned the site for many years but was yet to realise its full potential. Covering a total of three hectares, the site housed two buildings, one owner used to run his ongoing commercial operation. The second building was a leased investment, however with the lease due to expire and the building at the end of its practical life, it was time to assess the site’s future.

The Response

BWI Group identified all possible development strategies before conducting a thorough evaluation of each. One option was to sell the site and lease it back to continue the business. Another was to sub-divide the site and sell off the redundant portion. Finally, there was the option to sub-divide the site and develop the obsolete building.

The Outcome

After working through BWI Group’s assessment, the best strategy became clear. The client opted to sub-divide the site and continue running his commercial operation while selling the redundant building. Rather than simply engaging BWI Group to manage the development, the client felt the project called for a deeper partnership and invited Blake Walker to become a joint venture partner in the development. Having Blake on board as both development manager and investment partner is a testament to the trust placed in Blake and BWI Group. In partnership with Blake, the client can continue focusing on his business, knowing his property development is in safe hands.