A prime freestanding retail asset, located at 105 Elizabeth Street, has been placed on the market.
CBRE City Sales Associate Director Mike Walsh, alongside colleagues Peter Court & Andrew Adnam, has been mandated to divest the property on behalf of a local private owner.
Occupying a super prime location, the property is 100 per cent leased to 2 tenants generating an annual net income of $384,827 (approximately).
Mr Walsh said the property represents a truly rare offering within such a tightly held part of the CBD.
“Seldom do assets of this calibre present themselves to the market as evidenced by our internal analysis which notes only 14 freestanding assets sub $10million have transacted over the past 20 years in the CBD and very few in such a quality location like 105 Elizabeth Street is,” Mr Walsh said.
“Furthermore, recent transactional evidence is testament to the highly sought nature of opportunities such as this, whereby investors are typically prepared to sacrifice on the passing yield due to their longer term view on the inherent capital appreciation uplift associated with owning core CBD buildings.”
sale via an Expressions of Interest campaign, closing Thursday, October 22, 2015 at 4pm (unless sold prior).