Building type: Industrial
Building area: 900m2
Land area: 1,501m2
Purchase price: $1.75 million
Net passing yield: 4.91%
Net market yield: 5.91%
$/m2 building area: $1,944/m2
$/m2 land area: $1,165/m2
Tilt panel Industrial complex.
10 onsite car spaces.
Close to Logan Motorway and M1 Motorway.
Secure fencing and lockable gates
WALE: 3.7 years
Net passing income, pa; $85,936
Net passing income, $/m2; $95.48/m2
New market income, pa: $103,500
New market income, $/m2: $115
Tenancies: Single tenant
How Did Prosper Group Assist Their Client?
Having not invested in commercial property prior, our family office client wanted to start their portfolio with a small purchase, with the plan to increase the budget after this purchase.
After an extensive search and several close misses in Auction and Expressions of Interest campaigns, Prosper Group were able to secure this Industrial investment off market.
Not only is it hard to source a quality sub $2m free-standing Industrial asset, even better, Prosper Group did so on an asset with add value potential. Through our analysis, this opportunity presented a future uplift in rent as this property is currently under-rented due to the lease being negotiated during the initial COVID lockdown in 2020.
Despite COVID restrictions and state border closures preventing Prosper Group from travelling to Queensland, Prosper Group’s strong relationship with property consultants and extensive experience meant the due diligence was able to be conducted remotely and efficiently.
Prosper Group’s client was very happy to have secured this property in an extremely competitive Brisbane market where investor demand for Industrial properties is extremely high.