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.
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.”
Helping to make a new Whangarei business dream come true!
Mike and Carolyn were looking to secure a property to launch their day care business. A site was identified and we worked through the process to negotiate the price and terms they required. They didn’t want to settle too early, but they needed access to renovate the dwelling ready for opening day. We agreed a price that worked for their budget, we achieved the terms, and now they are successfully operating their business Baby Steps.
Big Al & Lisa,
Thanks so much for your efforts and help. Really appreciated and will never forget your encouragement and support to help realise Carolyn’s dream. Find attached opening article in local paper in Northland. Whangarei Advocate Article
Mavis and Carolyn