Jul 26 2017Add to Favorites
Simon Johanson, The Sydney Morning Herald
Banks are proving their worth to property investors. The Bendigo Bank building, a 788sq m, two-storey freehold at 4 Prospect Hill Road, has sold under the hammer for $7.03 million on a sharp 4.2 per cent yield, Fitzroys' Chris James, Chris Kombi and David Bourke said. The property sold with new five-year leases to Bendigo and Adelaide Bank on the ground floor, and CIPL on the first-floor.
The Goodlife Health Club at 312-320 High Street in Belmont has sold to a local investor for $5.322 million, a net passing yield of 7.5 per cent. JLL's Stephen Bolton, Tom Ryan and Peter Sprekos handled the negotiation. Quadrant Private Equity owned Goodlife signed a new five-year lease and five-year option on the building with passing annual income of $405,000 + GST.
SOURCE: The Sydney Morning Herald
The changing and competitive retail environment is driving transaction activity for shopping centres, as owners refine their portfolios, adjust their exposure to different states and asset types and seek greater diversification to improve their long-term risk-return profile.
More private investors will have access to individual, first mortgage secured loans, which produce a monthly income, via an online platform launched by Balmain Private.
In November 2017, real estate investment manager and advisory group, Ashe Morgan, closed its capital raising for its recent purchase of the Health and Forestry buildings in Brisbane adding to the assets it now manages on behalf of its investors.
Australia / Brisbane
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