Dynamic Brisbane duo launch RWC Gateway
After working together for almost a decade, commercial real estate team Jared Doyle and Jack Gwyn have taken their business to the next level, opening RWC Gateway.
AN industrial warehouse in the Melbourne suburb of Seaford has sold for $1,880,000 following successful post-auction negotiations at 19-21 Peninsula Boulevard.
The property, that came with a 1,050sq m* building size and 1,605sq m* land area, was securely leased to publicly listed company Paragon Care Group Australia Pty Ltd.
The asset was marketed and sold by Ray White Commercial Oakleigh Sales/Leasing Consultant George Kelepouris.
“We ran an online auction campaign that culminated in four registered bidders – and after the property initially passed in – it was then sold to a local investor,” Mr Kelepouris said.
“Buyers loved the fact the tenant is an ASX-listed company and we had 24 enquiries throughout the campaign. The $1,880,000 sale price reflected a yield of 7.1 per cent.
“The AAA investment was underpinned by one of Australia’s most prized ASX-listed lease covenants with the property offering a passive, long-term, secure income stream.
“The asset offered a new five-year lease that commenced in July 2020, with options to 2035, and produces a current rental return of $135,000 p.a. plus GST and outgoings.
“It consisted of a modern two-level reception/office, plus a separate medical-approved clean room site, both recently renovated in the heart of Seaford’s industrial precinct.
“It’s right next to the freeway and is part of a strong growth corridor. It also offers three street frontages, with the property having a substantial presence within the area, making it the ideal investment.”
*Approximately.
After working together for almost a decade, commercial real estate team Jared Doyle and Jack Gwyn have taken their business to the next level, opening RWC Gateway.
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.