142 Mica Street, Carole Park QLD
Building type: Industrial
Building area: 1,911m2
Land area: 4,802m2
Purchase price: $3.7 million
Net passing yield: 5.8%
$/m2 building area: $1,936/m2
$/m2 land area: $770.5/m2
How Did Prosper Group Assist Their Client?
Off market properties like this one provide our client’s the benefit of being presented opportunities they would otherwise not have seen, this value is created by Prosper Group’s industry contacts made over the last 15+ years.
Prosper Group’s extensive knowledge and coverage of the Sydney and Brisbane commercial markets gave this Sydney based client the confidence to purchase their first commercial property in Brisbane. By providing comprehensive research and data to our client, Prosper Group was able to demonstrate that investing in the Brisbane industrial market provided 1 – 1.5% higher net yield than investing in the Sydney market. The Brisbane market also provided better quality properties at this price point.
Prosper Group were able to negotiate a higher net yield of 5.81% due to the shorter WALE of 2 years, yet providing our client with comfort by the property showing strong re-leasing potential if it became vacant in the future.
Despite the COVID restrictions, Prosper Group guided their client through the process of sourcing opportunities, negotiations, and due diligence to successfully purchase a great investment. This gave their client confidence to proceed with the transaction even though they were not able to inspect the property.