Building type: Industrial
Building area: 3,082m2
Land area: 4,882m2
Purchase price: $5.5 million
Asking price: $5.7 million
Net passing yield: 6.13%
$/m2 building area: $1,784/m2
$/m2 land area: $1,126/m2
Modern tilt-panel warehouse.
Loading dock & dual access points.
Potential to subdivide into two tenancies.
Located close to M1 and Logan Motorway.
WALE: 1 year
Net income, pa; $337,040
Net income, $109/m2
Tenancies: Single tenant
How Did Prosper Group Assist Their Client?
One of Prosper Group's long term High Net Worth clients who we have assisted in purchasing 5 commercial investments to date, entrusted Prosper Group again in assisting their son with his first commercial investment, further expanding the family’s portfolio.
Through Prosper Group’s solid reputation and long term relationships with Brisbane Industrial agents, this off-market opportunity was sourced before it was presented to any other buyers. Prosper Group assisted their client in acting quickly and confidently to negotiate agreed terms and an exclusive due diligence period to take the property off the market.
In a market where net yields were being compressed by strong investor demand, Prosper Group identified the value in this properties short term WALE and strong property fundamentals. The properties strong fundamentals would be appealing to a broad range of tenants. Combined with the current strong leasing market and lack of similar properties for lease in the surrounding area, this gave their client confidence with the upside should the property need to be re-leased and achieving a higher net yield than current market net yield.