Purpose of Purchase: Commercial Owner Occupier
Property Type: Offices
- 70-100Sqm for the Client
- Secondary income stream
- Location within 10mins from Client Home
- Existing tenant
- Separate entrances
A Successful Investment:
We found a property that was a strata titled commercial unit over two levels. The unit was unique in that it has separate entrances for each level allowing simplicity of two tenants. Downstairs has an existing tenant who has just under 2 years remaining on the lease and upstairs is an open plan office with its own bathroom and kitchen facilities.
The complex has ample parking for both tenancies as well as street parking. The complex is unique in that there are very few commercial office spaces in the Morningside area with plenty of demand from tenants.
We secured the property with a good holding income and with just over 90sqm upstairs for the client, it is the perfect size. The upstairs tenancy which will be occupied by our client already has the kitchen, bathrooms, carpet, ceiling and ducted air conditioning installed so the fitout costs will be minimal.
PMC is managing the existing tenancy to provide arms length between the owner and the other tenant. The client is extremely pleased with the outcome and it is within a 10 minute drive from his home, so a perfect outcome.