This article is from the Australian Property Journal archive
PROPERTY investments in regional Victoria are hot ticket items, with a Horsham office leased to government agency Centrelink selling for $2.41 million on a yield of 10.35%.
Burgess Rawson’s Doug Doyle handled three sales privately for a total of $5.16 million.
Doyle sold the Centrelink Horsham at 9-11 Darlot St Horsham for $2,410,000 on a yield of 10.35% and a Beaurepaires workshop at 168-170 Harding St Deniliquin for $850,000 on a yield of 7.87%.
In metro Melbourne, he negotiated the sale of the Mulgrave Café at Shop 7, 2 Stadium Circuit, Mulgrave for $1,900,000 on a 5.4% yield.
Doyle said the Waverley Park café attracted strong interest and was sold off market to a private investor.
“It is evident that properties within this affordable price bracket are still in high demand and investors are prepared to pay premium prices to secure them,” he added.
Doyle said the two regional properties also attracted strong interest.
“More and more of our metropolitan focused investors, including offshore buyers, are being priced out of CBD investments with record low yields being achieved.
“Many of these investors are now looking to regional areas to secure national branded and blue chip tenanted assets which generally speaking, return higher yields and have lower acquisition prices.
“The Beaurepaires in Deniliquin (Regional NSW) sold for $850,000 which was 7.87% return with only 3 years left on the term certain and the Centrelink in Horsham sold for $2,410,000 a return of 10.35% with only 2.5 years left on the term certain,” Doyle concluded.
Australian Property Journal
