244 Coward St, Mascot NSW

Property Details
Building type: Office
Building area: 1,607m2
Land area: 808m2

Purchase Details
Purchase price: $7.9 million
Net passing yield: 4.2%
Fully leased net yield: 7.8%
$/m2 building area: $4,916/m2
$/m2 land area: $9,778/m2

Property Features

  • Modern boutique building
  • Prominent corner location
  • Growth area
  • Located 7km South of Sydney CBD
  • Located 50m from Mascot train station

Tenancy Details
WALE: 2.3 years
Net passing income: $342,301
Net fully leased income, $617,458
Net income, $/m2: $385/m2
Tenancies: 60% leased to 6 tenants

 

 

 

 

How Did Prosper Group Assist Their Client?

Prosper Group assisted their client with the process of selling their property and then purchasing a new property for their business and also as an investment. Due to the sale of their property their client had a limited time frame and selective search criteria to be achieved. Prosper Group conducted an extensive search of the clients preferred areas and they identified this off market opportunity which offered vacant space for their business and also additional income for investment.

Prosper Group identified during their thorough due diligence analysis various issues with the building that potentially were going to cost their client capital expenditure in the short to medium term. This information was presented to the vendor and Prosper Group negotiated a reduction in the purchase price of $100,000.

 

The Country Women’s Association of New South Wales formed a relationship with Prosper Group in 2013 to assist with its future accommodation strategy. This included the sale of its long held premises in Potts Point and the subsequent search and purchase of a new property.

The Prosper team provided valuable advice to the Property Sub-Committee over the process and their knowledge and insight into the market was second to none. They were very professional in their approach and at times went out of their way to provide additional assistance.

Subsequent to the purchase of our new State office, we then engaged Prosper to source a residential investment property. Again their expertise and professionalism ensured an excellent outcome for our organisation.

In addition, we are now utilising Prosper’s Commercial Property Asset Management services to manage our newly acquired site.

We would not hesitate to recommend Prosper Group to our business associates.

Donna Wilkins
Executive Officer
Country Women’s Association of NSW

 

  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