Furzer Street – Phillip

Sally James

This client was looking for a strata commercial premises in a well maintained building with a good tenant on a long lease and a yield around 5 %.

We were searching in prime markets of Sydney and the ACT. This property came up for auction and we knew and liked the special precinct of 10 retail premises. Mainly hospitality with access to grease trap and exhaust facilities,  based around a tree lined pedestrian mall in a prime residential area and adjoining multiple government buildings with over 12,000 employees.

The tenant pays 100% of the outgoings, and an annual rent increase of more than 3% . The vendor and tenant carried out a high end fit out for the restaurant entitling, with my client to enjoy tax depreciation benefits.

After completing our due diligence, we purchased the property just prior to the scheduled auction.

Our client is thrilled with the new addition to his portfolio of properties that we have built over the past 4 years.

If you’re looking to purchase an investment property, we’d love to help. Get in touch with Sally James today.

CLIENT TYPE:

Investor

SERVICE TYPE:

Buyers Agency

PURCHASE PRICE:

$2,750,000

TRANSACTION TYPE:

Pre-auction

ZONING:

Commercial

BEDROOMS:

BATHROOMS:

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