609 Harris St, Ultimo NSW
Building type: Office
Building area: 1,334m2
Land area: 803m2Purchase Details
Purchase price: $7.05 million
Net passing yield: 5.97%
$/m2 building area: $5,285/m2
$/m2 land area: $8,780/m2
How Did Prosper Group Assist Their Client?
Prosper Group conducted a thorough search of the clients preferred areas and presented them with multiple properties to consider. This gave their client the peace of mind that they were aware of all the available options both on and off market and they could use each of these options to weight up the best property that suited their criteria.
Prosper Group identified during their initial due diligence that the property was undervalued on a vacant possession basis, and also the passing rent was below market values. This initial due diligence gave their client the confidence to proceed with purchasing this property even though it had a short WALE.
Prosper Group used their experience and knowledge of the market to negotiate a $200,000 saving for their client off the purchase price, which was more than the cost of Prosper Group’s fee.