14-20 Elizabeth Ave, Clontarf QLD

Property Details
Building type: Retail
Building area:  1,979m2
Land area: 6,666m2

Purchase Details
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
Property Features

  • 97% occupied by two tenants
  • Anchored by IGA who occupy 93% of the building area
  • 3 street accesses
  • 114 car parking spaces
  • High exposure site with great street frontage to two major roads

Tenancy Details

WALE: 1.0 years
Passing net income pa; $136,831
Fully leased net income, pa; $166,831
Net income $/m2; $69/m2
Tenancies: 97% leased to 2 tenants

 

 

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%.

  We’re convinced that no other buyers agent offers such an unbiased and educated view on property investment as Prosper Group does.  

Mahlah Ludekens

Director - RecruitR

  The Prosper Group Team has managed our property in the most professional and dedicated manner.  

Lisette

MacMahons Point, NSW

  In all my dealings with Prosper Group I have felt the team really cared about the result, cared about the property and cared about our business relationship.  

Michelle Collins

Coogee, NSW

  It was like having a partner who was on my side – we had many discussions about all aspects of the property.  

GR

Managing Director - Paragon Crest Pty Ltd

  Without Prosper Group's help, persistence and expertise, we would not have found our ideal home.  

Alice & Jackson

  Prosper Group's negotiation skills reduced the price from $1,500,000 to $1,175,000.  

J.B.

Company Director & Investor

  Meticulous, thoroughly professional, very patient. A pleasure to deal with.  

E. Cassimatis & Family

  The value was returned in spades. I secured a great home that I would never have been able to find myself.  

Alan Arakelian

CFO - Bain and Associates

  Prosper Group was great. They were patient and found me the right property at the right price. I could not have asked for a better experience.  

Sascha Bannon

Surry Hills

  Thank you Prosper Group for all your hard work; you have found us an investment property that ticked all the boxes  

Carolyn & Anthony

Brisbane