Purchased as a leased investment, 3/3 Stanhope Gardens, Midvale sold for above the asking price and achieved circa 5.8%.
Realmark Commercial Industrial Sales and Leasing Consultant, Alex Taylor said the high return during steady interest rate rises highlights the strength of WA’s commercial property market.
“The property was only on the market for less than 30 days, received four very competitive offers from both local and interstate purchasers and ultimately sold to a buyer from Sydney,” Mr Taylor said.
“We were expecting strong interest in the local market for this property, but it’s very exciting to see such strong national interest in WA properties.”
Purchased as a long-term leased investment, the property boasted an enticing 5+5+5 lease with a strong return of 5.8% to international motorcycle juggernaut, Harley Davidson.
Realmark Commercial’s Property Management division will also continue to manage the property, with Harley Davidson to remain in place.
“Both the buyer and the seller were really pleased with the final result of this sale and the Realmark Commercial team are looking forward to now work with the buyer on their exciting new investment,” Mr Taylor said.
“The dealings with both parties were seamless and simple, and as the buyer is a new client making their first investment in Western Australia, it was great to assist them in making their first purchase in the state as easy as possible.”
