Property Details
Building type: Ofiice
Building area: 1,400m2
Land area: 764m2
Purchase Details
Purchase price: $13.75 million
Net passing yield: 5.47%
$/m2 building area:$9,821/m2
$/m2 land area: $5,159/m2
Property Features
Fully refurbished 2 level office building.
3 street frontages.
Good parking facilities.
100% leased to international company.
Zoned R4 high density residential.
Located close to St Leonards station and proposed Crows Nest station.
Tenancy Details
WALE: 3.5 years
Net passing income, pa: $751,883
Net income, $/m2: $537/m2
Tenancy: 100% leased to 1 tenant
How Did Prosper Group Assist Their Client?
Through Prosper Group’s relationship with the selling agent they were offered this property off market before any other buyers.
Prosper Group’s experience and up to date knowledge of the market assisted their client in conducting a quick due diligence analysis of the property, which allowed them to negotiate and exchange contracts in a short period of time which was essential to securing the property.
Prosper Group’s thorough due diligence analysis identified that there was an old oil tank under the carpark, but this tank had been decommissioned and presented a low risk of future contamination issues.