Premier Investment Sold at Record Price $4,150,000
Norwest’s premier blue chip investment has changed hands for $4,150,000 representing a 5.5% Net yield on the purchase price.
Greg Langford from THiiNK Commercial transacted the sale in February 2017. Buyer interest was strong with several disappointed underbidders missing out on the opportunity.
“5.5% Yield represents an extremely sharp return which was achieved by a professionally executed Expressions of Interest campaign, underpinned by an institutional bank tenant, proximity to the new Bella Vista station and lack of current supply in the marketplace.”
– Premium position 150 metres from Bella Vista Rail Station (Completion due 2019)
– ANZ Retail Branch with Business Banking Centre
– Road frontage property with excellent signage
– Total Strata Area 663m² approx
– Staggered Expiry Profile – Retail (18 Sept 2018) Business (23 Dec 2019)
– Retail Branch 5 + 5 + 5 Year Lease
– Business Banking 7 + 5 + 5 + 5 Year Lease
– 26 car parking spaces; 12 dedicated 14 visitors
The tenant, ANZ has been long-established within the current location which is amongst one of the busiest hot spots in Norwest Business Park.
Strategic in nature, a property like this is hard to come by. Highly visible from Lexington Drive, the branch is enhanced by excellent signage (allocated on title) to the front façade of the building and Windsor Road (over 70,000 passing cars daily).
For further details on the sale please contact the selling Agent.
Greg Langford | Director
M 0428 128 488
T 02 8321 9211