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We were approached by a local Mount Eliza business owner/investor couple to source some quality retail shops for long term investment purposes. The client had existing retail investments and our brief was that they wished to add to them. Following a lengthy 3 month process that targeted in excess of 20 vendors we sourced 2 off market retail properties in Mt Eliza Way owned by the same entity. The vendor was willing but not anxious to sell. The total combined net rent across the 2 strata retail shops was approximately $120K pa - with secure leases - and the sale price was slightly below $3M representing a passing yield of approximately 4% which albeit tight nevertheless pointed to a tightly held and much sought after retail strip. This is a great example of Propertybuyer working as an intermediatery to source off market retail properties for buyers who wish to remain silent and who prefer to avoid the trials and tribulations of competing for good retail properties in the market place.
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