14-20 Elizabeth Ave, Clontarf QLD
Building type: Retail
Building area: 1,979m2
Land area: 6,666m2
Asking price: $5 million
Purchase price: $4.6 million
Net passing yield: 2.9%
Fully leased net yield: 3.6%
$/m2 building area: $2,324/m2
$/m2 land area: $690/m2
WALE: 1.0 years
How Did Prosper Group Assist Their Client?
Prosper Group’s reputation and industry contacts provided their client with the opportunity to purchase this property off market before it was presented to any other buyers.
Prosper Group’s patient and pragmatic approach ensured that the transaction stayed on track over a period of 2 years and was successfully completed.
The property was purchased with the short term aim of conducting refurbishment works and re positioning the tenancies to achieve a potential fully leased net yield of above 6%.