Porter Commercial have successfully negotiated the sale of 105 Winton Rd, Joondalup which was being offered as an investment opportunity.
The 3,751sqm site featured 1,612sqm of industrial improvements across two separate tenancies, generating a net income of approximately $178,000 p.a. Plus GST. The eventual sale price was $2.55 million showing a yield of 7%. The investment was underpinned by the long term lease to the Army which makes up 70% of the annual income.
The sale was negotiated through the Covid-19 lockdown period and despite the greater economic uncertainty, the marketing campaign generated good levels of enquiry from investors Australia wide. It is evident that securely leased commercial property is proving to be a sought after investment strategy over other investment avenues such as the share market which is presently experiencing high levels of volatility. Interest levels aside, buyers remain overly cautious with length of lease and strength of tenant being the major focal points.
To see how Porter Commercial can service your property requirements, please browse through our website and contact us for more information.