Property Details
Building type: Retail
Building area: 1,077m2
Land area: 2,576m2
Purchase Details
Purchase price: $5.5 million
Net passing yield: 7.0%
$/m2 building area:$5,107/m2
$/m2 land area: $2,135/m2
Property Features
Two adjoining retail buildings on separate titles.
Prominent corner site
100% leased to 7 tenants, with 77% being national tenants, including; CBA, Westpac, QML, and Snap Fitness.
Located opposite Arana Hills plaza shopping centre.
Tenancy Details
WALE: 2.9 years
Net passing income, pa: $385,206
Net income, $/m2: $357/m2
Tenancies: 100% leased to 7 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 was a risk of a potential road widening affecting the property in the future.
The potential road widening required one of the boundaries to be moved in by 2.5m. Prosper Group’s in depth analysis of this risk established that although the potential road widening may reduce the car parking area there was still sufficient amount of space remaining to be compliant and not adversely affect the car parking amenities of the property.