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Case Studies

37-39 Cotton Street, Nerang

The subject property is a large single level building boasting 50 underground basement car parks.

The property is situated on 2,026m²* of corner positioned land in Nerang and is surrounded by various government tenants.
The subject property was originally purpose built for the existing long term Australian government tenant Centrelink, and consists a lettable area of 1,401m²*.

Centrelink has occupied the premises since 1991. In December 2012 Centrelink entered into a new lease on a 4 + 3 + 3 year lease term.

The current nett income is $652,192pa*.

Sales Analysis*
Land Area:2,026m²*
Sale Date:7th March 2014
Enquiries:29
Offers Received:4
Sale Process*
Process:Offers to Purchase
Marketing Time Frame:6 weeks
Marketing Budget:$30,192.00
Yield:9.25%
Sale Price:$7,050,000

*approx

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