Property Details
Building type: Industrial
Building area: 8,975m2
Land area: 22,330m2
Purchase Details
Purchase price: $12.4 million
Net passing yield: 9.1%
$/m2 building area: $1,382/m2
$/m2 land area: $556/m2
Property Features
Recently constructed building
Heavy load capacity concrete floor
Gantry cranes
Drive around and drive through truck access
100% leased to an international tenant
Main road exposure
Tenancy Details
WALE: 7.3 years
Net passing, pa: $1,128,400
Net income, $/m2: $126/m2
Tenancies: 100% leased to one tenant
How Did Prosper Group Assist Their Client?
Prosper Group conducted a thorough search of Sydney and Brisbane and presented their client with multiple properties to consider. This gave their client the peace of mind that they were aware of all the available options both on and off market and they could use each of these options to weight up the best property that suited their criteria.
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 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 further reduction in the purchase price.