Belmont store with long-term tenant units 5.1% yield for investor

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A MELBOURNE investor has lined up a tidy earner in a central Excessive St, Belmont store with a brand new four-year lease.

The customer secured the 83sq m business constructing after a brief two-week marketing campaign, Darcy Jarman, Geelong West agent Simon Jarman mentioned.

“That was in the marketplace for $339,000 and we bought it near that determine,” Mr Jarman mentioned.

“Which labored out to be a 5.1 per cent yield for the purchaser, who was an investor out of Melbourne,” he mentioned.

Store four/108 Excessive St, Belmont is situated between Mt Nice Rd and Regent St with frequent off-street buyer automobile parking.

A longstanding tenant signed a brand new four-year lease in February.

THE lack of a tenant meant that brokers needed to safe an owner-occupier for a 268sq m Newtown freehold close to Kardinia Park.

Darcy Jarman, Geelong West agent Simon Jarman mentioned the Industrial 1 store at 356 La Trobe Tce, Newtown, was initially supplied at public sale late final 12 months, however bought final month to a Melbourne-based proprietor occupier for an undisclosed value.

“We bought it to an proprietor occupier trying to open up their enterprise within the property,” Mr Jarman mentioned.

“We had good curiosity since we auctioned it final 12 months however as a result of it was vacant we needed to fund an proprietor occupier trying to purchaser,

“Given there was no tenant, traders didn’t have a look at it severely,” he mentioned.

The store has three road frontages and a constructing with 160sq m of retail floorspace.

A CENTRAL Lara property which presents as a improvement alternative has bought after a two-week marketing campaign.

Colliers Worldwide, Geelong agent Ben Younger dealt with the sale at 23 Clover St, Lara.

Mr Younger mentioned the property bought for circa $350,000.

The 897sq m block is zoned Industrial 2 and has a 100sq m shed on the rear.

It’s situated in an industrial property near the Lara prepare station and close to the suburb’s essential Centreway procuring centre.

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