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Damien Holliday. Buyers Agent. |
Commercial property investors may have seen the term WALE in property sales reports and wondered what this term means. The term WALE stands for ‘weighted average lease expiry’. The Property Council of Australia define a WALE as ‘the weighted average lease term remaining to expire across a portfolio, it can be weighted by rental income or square metres.’ |
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Prosper Group recently assisted one of their clients in purchasing a commercial office building in St Leonards. The property is a 3 level office building with two levels of basement car parking and was purchased for $12.2 million on a market net yield of 8.6%. Below is a brief summary of the key aspects of this transaction. |
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1. Great rental return An ad like this has a lot of emotional pull. The benefits are clearly stated and for some buyers, too good to pass up. |
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As professional property buyers we are aware of the potential hidden costs associated with buying property. Our colleague, John Maglis from Macquarie Building Consultants and Engineers estimates that 20% of house purchasers and more than 50% of unit buyers do not have a pest and building inspection done prior to their purchase. |
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Damien Holliday Buyers Agent |
Although the 2011 flood was about 1m lower at the City gauge than the 1974 flood a lot of commercial and industrial areas in Brisbane were affected. It has been reported by industry experts that the worst affected commercial and industrial areas in Brisbane were; Rocklea, Salisbury, West End, New Farm, Jindalee, South Brisbane, Albion, Toowong and Milton. Various other commercial and industrial areas were impacted including sections of the CBD along Eagle St, where the basements of several buildings were flooded. |
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