Purpose of Purchase: Investment
Property Type: Commercial
- Minimal ongoing requirement of maintenance
- Long term tenant
- Good yield
- 3 years remaining on lease to a long term tenant.
- Current net return of 7.74%
- Main road exposure opposite beach surf club and skate ramps
A Successful Investment:
The client had previously engaged another buyers agent company but it turned out they weren’t experienced in the commercial/retail sector of the market. He then engaged PMC and within 60 days we had found and secured this convenience store on the main thoroughfare, opposite the skate ramps and surf club of Alexandra Headlands. The property is approximately 83sqm internally with 3 years remaining on the lease from a convenience store that has been in the premises for over 15 years. The property is in a complex of only 4 with two ground level retail units, a restaurant on the first floor and a residential unit on the top floor. The property is in a premium position for future development as it is on a 720sqm allotment opposite the surf club and the beach. The property is providing a net return of 7.74%. The client has subsequently engaged PMC for further commercial acquisitions as part of his long term portfolio growth plans.