Purchased off market and negotiated a new lease to existing tenant
- Utilising strong local agent contacts, this Industrial unit was purchased off market. A quick negotiation ensured a much better price than would have been achieved if the property was put to the open market.
- Small complex of only 6 consisting of an even mix of owner occupiers and investors - both good features.
- The existing tenant was a rolling month to month lease and on a grandfathered lower rental, the sellers had not wanted to enter a lease to keep their options open for selling. Knowing well the extremly tight leasing conditions and substanitally higher market rent review we saw opportunity to purchase
- On behalf of our client we negotiated a new lease with the tenant equating to a 6% net yield.
Please contact us for more information on this purchase.
Antony was reliable, efficient and very knowledgeable throughout the entire process
Anna R
