Strata Office Investment Provides Strong Return

A vendor has benefited from a 25% windfall in 12 months from the sale of 4-6 Croydon Road, Croydon. The multi-tenancy office building which was bought in 2016 for $1,300,000 was sold in June┬áby Gorman Commercial’s Associate Director, Stephen Speck, for $1,745,000 representing a 4.8% yield on current rent. The purchaser who was buying in their self-managed super fund was seeking a multi-tenancy property with high yield to provide secure long term cash flow. Stephen Speck said, “Even though there was a significant increase in value, we still believe the property great buying as a long term investment with substantial land holding. The buyer is looking to significantly increase their return on investment by leasing one of the suites which is currently vacant.”

Published in The Age, Business Day on Wednesday 21st June 2017