Auction held onsite with a substantial crowd and strong competitive bidding from four parties. The lessee was a long standing business on a recently renewed three year lease. Very comfortable with the lease covenant.
Detailed analysis of a multitude of sales in this area showed current fair market value to be $850k. Sold to our client under the hammer for $811k so very happy with the result. Sale reflects a 5.15% net return.
Sale
By public auction
Building
510m2
Land
Strata
Car parking
4
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