Client gets the 9.2% yielding property they want

We recently had a brief from a client to source a property with a value up to $1.5m and a 9% + yield.

Jan 2013 our client went unconditional on the following:

  • Purchase price $1.450m
  • Rent $136k per annum
  • Yield 9.38%
  • Lease: 4 months in to a 4 year lease with 2 x 4 year right of renewals
  • Strong tenant – 3rd generation business
  • Property type – clear span warehouse with office space. No earthquake concerns.

55074B

Follow up from our client 6 months later…

“The property is running well – the first annual reports and GST return were completed last month and it is running at a profit. The tenant has been excellent so we are very happy with it so far.”

Published on Thursday, May 9th, 2013, under Commercial, Examples

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