35 Chandos St, St Leonards NSW
Building type: Office
Building area: 2,204m2
Land area: 479m2Purchase Details
Purchase price: $5.15 million
Net passing yield: 0.7%
Fully leased net yield: 6.7%
$/m2 building area: $2,337/m2
$/m2 land area: $10,752/m2
How Did Prosper Group Assist Their Client?
Prosper Group’s client was looking to move out of the Sydney CBD where they were tenants and purchase a new business premises with additional income for investment. Prosper Group conducted an extensive search of the clients preferred areas and they identified this opportunity which offered vacant space for their business and also additional income for investment.
Prosper Group’s experience and knowledge of the market meant that their client submitted a competitive offer on both price and terms in the expression of interest sales campaign. Prosper Group’s reputation and relationship with the sales agent meant that their client was then chosen as the preferred buyer at the end of the campaign even though they were not the higher price.
Prosper Group conducted a thorough due diligence analysis which included a report on the potential refurbishment costs and fully leased returns. This gave their client the confidence that the total cost of refurbishment was within their budget and the potential new income would provide great additional income.