This article is from the Australian Property Journal archive
A SELF-managed super fund has paid $2.72 million on a 7.7% yield for a Sunshine West industrial property.
Savills’ industrial directors Chris Jones, Ben Hegerty and Brigitte Bennett sold the 570-572 Somerville Rd property.
The property comprises a 2,451 sqm (GLA) facility including a recently refurbished 379 sqm office and a versatile 2,072 sqm warehouse, set on a 4,444 sqm site. It was sold subject to a new four-year lease to global tenant Schenck Process Pty Ltd, at a current rental of $215,000 p.a. net.
“This property provided the sort of security and peace of mind that goes with a well-tenanted, well-located and relatively maintenance free property, a package likely to deliver sound growth prospects and that’s just what you want to put into your super fund,” Jones said.
Australian Property Journal
