Commercial Purchased Properties
449 Logan Road, Greenslopes Purchased by Prosper Group - image 1
449 Logan Road, Greenslopes Purchased by Prosper Group - image 1
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449 Logan Road, Greenslopes QLD

Property Details Building type: Office
Building area: 762m2
Land area: 1,004m2

Purchase Details Purchase price: $5.18 million
Net passing yield: 8.54%
$/m2 building area: $6,890/m2
$/m2 land area: $5,159/m2
Property Features Modern 3 level office building.
Good exposure.
Lift access to all levels.
100% leased to 3 tenants.
52% of the building is leased to a government tenant.
Tenancy Details WALE: 3.6 years
Net passing income, pa: $444,952
Net income, $/m2: $584/m2
Tenancies: 100% leased to 3 tenants

 

How Did Prosper Group Assist Their Client?

This property had been on the market for sale for a while and Prosper Group’s experience and knowledge of the local market allowed them to identify the value in this property that other buyers had not seen. Prosper Group then engaged in a lengthy negotiation process that resulted in a saving off the asking price and favourable terms for their client.

Prosper Group’s thorough due diligence analysis identified several building issues, some relating to safety issues. Prosper Group managed to negotiate some compensation for the potential cost of rectifying these building issues.

 

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