Property Details
Building type: Retail
Building area: 692m2
Land area: 4,014m2
Purchase Details
Purchase price: $4.88 million
Net passing yield: 6.3%
$/m2 building area:
$7,052/m2
$/m2 land area: $1,216/m2
Property Features
Modern retail building
Prominent location
100% leased to 5 tenants including national tenants; Westpac, and Suncorp
Located adjacent to a Mc Donalds, Woolworths anchored neighbourhood shopping centre and major bulky good retailers
Tenancy Details
WALE: 1.6 years
Net passing income, pa: $307,730
Net income, $/m2: $444/m2
Tenancies: 100% leased to 5 tenants
How Did Prosper Group Assist Their Client?
Prosper Group’s negotiation experience and reputation assisted their client in being selected as the preferred buyer in a competitive expression of interest campaign.
Prosper Group identified during their thorough due diligence analysis that there were various repair and maintenance defects with the property. This information was presented to the vendor and Prosper Group negotiated a favourable outcome for their client that compensated their client for the costs of rectifying these defects.
Prosper Group also identified during their thorough due diligence analysis that the current vendor was losing around $3,000 pa with their current bulk electricity arrangements. Prosper Group's in depth analysis established that that their client could renegotiate these arrangements and potentially receive a profit of around $5,000 pa.