Property Details
Building type: Industrial
Building area: 23,785m2
Land area: 49,990m2
Purchase Details
Purchase price: $24.0 million
Net passing yield: 8.84%
$/m2 building area: $1,012/m2
$/m2 land area: $482/m2
Property Features
One modern industrial building and one brand new industrial building
Functional industrial buildings with concrete walls
12m internal height, ESFR sprinklers and 8% office content
The new building was purchased on a 'fund through' basis
which reduced the stamp duty costs
Main road exposure
Located 40km Southwest of Sydney CBD and 5km from the M5
Tenancy Details
WALE: 9.8 years
Net income, pa: $2,126,432
Net income, $/m2: $89/m2
Tenancies: 100% leased to 2 tenants
How Did Prosper Group Assist Their Client?
Prosper Group conducted a thorough search of Sydney and NSW and presented their client 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 extensive network of contacts in the industry enabled them to identify this off market opportunity which meant that their client did not have to compete against any other buyers in an expression of interest campaign or an auction.
Prosper Group used their experience and knowledge of the market to negotiate a $300,000 saving for their client off the purchase price, which was more than the cost of Prosper Group’s fee.
Prosper Group negotiated that the new building was purchased on a ‘fund through’ basis which meant that their client’s stamp duty costs were substantially reduced. Prosper Group organised and managed the entire ‘fund through’ process from completion of the necessary upfront documentation through to practical completion.