Property Details
Building type: Office
Building area: 935m2
Land area: 586m2
Purchase Details
Purchase price: $2.75million
Net passing yield: 10.5%
$/m2 building area: $2,942/m2
$/m2 land area: $4,693/m2
Client's Final Sale Details
Sale price: $3.1 million
$/m2 building area: $3,316/m2
$/m2 land area: $5,290/m2
Total profit in 3yrs: $350,000
Property Features
Recently refurbished building
Located 100m to Brunswick Mall and 500m to Fortitude Valley train station
Future redevelopment potential
Located opposite a large car parking station
Tenancy Details
WALE: 2.8 years
Net passing income: $289,634
Net income, $/m2: $310/m2
Tenancies: 100% leased to 1 tenant
How Did Prosper Group Assist Their Client?
Prosper Group conducted a thorough search of the clients preferred areas and presented them 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 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 assisted their client with the sale of the property which resulted in their client making a $350,000 profit in three years.