Client Type
Investor
Service Type
Buyers Agency
Purchase Price
Confidential
Zoning
Residential
Property Type
Other

A local agent asked me to look at a very quiet off market commercial property. I sent the details to one of my long term clients who jumped at the opportunity as it was in a prime eastern suburbs location and had a 10 year lease (plus two options) to a tenant who has run a very busy laundromat business from this premises for the last 10 years. The return is Net 5% with annual increases of 3%. In addition to the usual outgoings, I negotiated for the tenant to pay all special levies for the term of the head lease. The deal was successfully completed within 10 days and my client is thrilled with the new addition to her property portfolio.