Building type: Retail
Building area: 409m2
Land area: Strata
Purchase Details
Purchase price: $2,950,000
Asking price: $3,000,000
Net passing yield: 6.26%
$/m2 building area: $7,213/m2
$/m2 land area: N/A
Property Features
High exposure strata asset on an arterial road.
Long-term lease to a reputable national tenant on a landlord-friendly lease covenant.
On grade customer parking.
Tenancy Details
10-year lease to Jetts Fitness
Net income of $161,972 pa
How Did Prosper Group Assist Their Client?
Acting on behalf of a first-time commercial property investor, Prosper Group undertook a comprehensive search across multiple cities and asset classes, ultimately identifying the purchased property as a stand-out.
Our client’s brief was wide, looking for a property with sound fundamentals and a long-term lease in place to provide reliable returns. This property, constructed in 2007 offers 409 square metres of high-profile retail space with use of 13 carparks and considerable storage. The current tenant has occupied the space since 2009 with a 10-year renewal as of 2018, exactly the security our client was searching for.
What Our Client Had to Say:
“I had the absolute pleasure of working with the team at Prosper Group, and I couldn't be more impressed with their professionalism, expertise, and dedication. Their market knowledge is second to none. They treated the deal as if it was their own, which helped secure a fantastic outcome. They were always available, responsive, and proactive which has made for a great experience.
If you're looking for a commercial Buyer's Agent who genuinely cares about their clients needs and delivers outstanding results, I highly recommend Prosper Group, they are the best in the business!”