JLL agents Jarred Hill & Jason Armstrong have sold a Great South Rd building near the Market Rd corner in Epsom with a rent underwrite in place.
Under the mixed-use zone, the site can be developed up to 4 storeys or 18m.
97 Great South Rd:
Features: 1053m² site, 718m² office building, 2 established tenants on leases expiring at the start of 2020, covered parking
Outcome: sold for $3.9 million, reflecting a 5.1% yield on underwritten market rental (landlord underwrote rent to market level $200,000 net for the remaining lease term)
Agents: Jarred Hill & Jason Armstrong
Attribution: Agent release.