Strong Investment Sale Activity Continues
Yesterday, I attended the Auction of a desirable investment property leased to Dulux Paints until 2024. Strong bidding resulted in a sale price of $5.30m, which equates to a yield of 4.25%. An added bonus was the tenant paying the Land Tax, which boosted the yield to 4.70% net.
The high exposure site at 565 Doncaster Road, located in Doncaster’s Golden Mile, comprising car dealerships, Doncaster Shoppingtown and major retailers.
Key attributes of the property include:
* Land area: 955 sqm (approx.) * Building area: 609 sqm (approx.) * Income: $228,093 pa net (tenant pays all outgoings including land tax) * Lease term: 7 years (expiry 2024), plus options * Dual street frontage + basement parking
* Future development potential
Feel free to call me on 0418 129 299 for a brief chat, to obtain a market update, and discuss your property requirement.