A Rosebank Rd property with a range of tenants established over the last 3 years was sold on a 5.9% yield at Barfoot & Thompson’s auction yesterday.
The property, developed by Grey Rose Holding Ltd (Au Ching Kwong, Au Tak Yuen & Tong Woon Ching) has 3 retail tenancies and 2 larger buildings at the rear.
391A Rosebank Rd:
Features: 2288m² site, 1108m² of buildings, 5 retail tenants in total 270m², a kitchen company & a medical centre in premises of 413m² & 425m², 11 parking spaces
Outgoings: rates $18,311/year + gst, insurance $2337/year + gst
Rent: $167,000/year net
Outcome: sold for $2.83 million at a 5.9% yield
Agents: Grant Magill & Murray Tomlinson