This article is from the Australian Property Journal archive
CHARLES Sturt University has sold off a Bathurst retail property for $880,000, at an initial yield of 4.26%, after three parties competed for the asset at auction.
Savills’ Robert Lowe, in conjunction with Raine & Horne’s Matt Clifton, sold the two-storey freehold at 126 William Street, currently leased to a restaurant on a three-year term and bringing in $45,502 per annum.
A private Sydney investor was the purchaser.
Clifton said the buyer was attracted to the rental potential of the building when fully leased.
“With another tenant on the second floor, the opportunity exists for a gross annual income of $75,502,” he concluded.
Australian Property Journal