This article is from the Australian Property Journal archive
SMALL investors are snapping up high yielding commercial property investments in Melbourne's inner suburbs.
Agents Gray Johnson has sold a small securely leased office suite in a recently built development in the Forrest Hill precinct of South Yarra for $285,000 to show a 7.6% return.
The strata titled office is known as Suite 608 at 10 Yarra Street and comprises a fully fitted 55sqm office suite. The tenant is national construction group Walton Constructions which has a five year plus five year option lease which commenced from April 2007.
The current annual rental is $21,632 plus GST with the tenant responsible for all outgoings. It also includes two basement car parking spaces.
Selling agent Ben Evans said the campaign received phenomenal response from potential purchasers, who were basically all small investors, or had self managed superannuation funds, and recognised the return, security and diversity that a good commercial property investment could add to their portfolio.
“We also sold the investment on a 30 day settlement contract,” Evans added.
Australian Property Journal
