Building type: Industrial
Building area: 2,407m2
Land area: 4,308m2
Purchase Details
Purchase price: $7,600,000
Net passing yield: 5.17%
$/m2 building area: $3,157/m2
$/m2 land area: $1,764/m2
Property Features
- Tilt panel construction with truck drive around ability.
- Well located to major highways and ports.
- Existing high quality office & showroom fitout.
- Leased to a reputable global tenant on a new ‘whole of lot’ lease.
Tenancy Details
WALE: 4 years
Net income, pa: $392,935 pa
Net income, sqm: $163 p/sqm
Tenancies: Single tenant
How Did Prosper Group Assist Their Client?
Acting on behalf of our high-net-worth client, Prosper Group were instructed to undertake an investigation and search for a quality property across multiple locations and asset classes. The purchased property was presented as an off-market opportunity through Prosper Group’s extensive contacts within the market.
With a brief traversing multiple locations and asset classes, the purchased property transcended all requirements. Presenting as a well-constructed and superbly maintained warehouse, considerable office and showroom space, and a global tenant. The property passed Prosper Group’s thorough Due Diligence.
As part of the negotiations, Prosper Group were able to navigate a complicated legal scenario with one of the sitting tenants taking the balance of the property through a new ‘whole of lot’ lease with brand-new fit out works.
What Our Client Had to Say:
"Thank you very much for your great work on the North Lakes purchase. It is a great property, and I am very happy with it.
You are very professional and have a great depth of knowledge on the Brisbane market.
It is easy to talk to you and I know you will provide straight up and wise advice.
All three of you have been great and enjoyable to work with. You each bring different skills to the table that are complimentary.
I look forward to purchasing my next commercial property with you."