14 Business Dr, Narangba QLD
Building type: Warehouse
Building area: 3,100m2
Land area: 5,794m2
Asking price: $6.2 million
Purchase price: $6.0 million
Net passing yield: 6.0%
$/m2 building area: $1,935/m2
$/m2 land area: $1,035/m2
How Did Prosper Group Assist Their Client?
The property search that Prosper Group conducted for their client involved considering many industrial investments in Brisbane most of which did not meet Prosper Group’s stringent investment fundamentals and their client’s criteria.
During the property search there was a strong demand from investors for industrial investments and a lack of supply of good investment opportunities. Regardless of the market conditions Prosper Group sourced this property off-market with their client being the only buyer to consider this property.
After being involved in several potential transactions with this client that did not proceed, due to Prosper Group’s stringent due diligence process, this property passed the process and the property was secured.
This is the second purchase Prosper Group has purchased on behalf of this client. They now have an industrial property investment portfolio that will provide them with a great cashflow and a solid base to add to in the future.