42 President Ave, Caringbah NSW

Property Details
Building type: Medical
Building area: 1,528m2
Land area: 1,144m2

Purchase Details
Purchase price: $8.7 million
Net passing yield: 8.7%
$/m2 building area: $5,694/m2
$/m2 land area: $7,605/m2

Property Features

  • Recently constructed building
  • 100% leased to national medical centre operator, Primary Health Care
  • High exposure in main retail strip of Caringbah
  • Located close to Caringbah train station and Coles shopping centre

Tenancy Details
WALE: 13.5 years
Net passing income: $757,012
Net income, $/m2: $495/m2
Tenancies: 100% leased to one tenant

 

 

 

 

How Did Prosper Group Assist Their Client?

Prosper Group’s extensive network of contacts in the property industry allowed them to identify this off market opportunity. This meant that their client did not have to compete against any other buyers in an expression of interest campaign or an auction.

Prosper Group identified during their thorough due diligence analysis that the lease was structured as three 5 year leases with a put and call option review mechanism, and the first term had only 3.5 years remaining. Prosper Group conducted further investigations to identify that the structure of the leases were satisfactory and the total initial term remaining was 13.5 years. This information gave their client the confidence to proceed with purchasing this property even though the initial term of the lease was only 3.5 years.

  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