Asian investor buys bank backed showroom
An Asia based investor swooped on a single storey, land rich showroom, office and warehouse in Sydney’s west Auburn for $11 million – a low 4.16 per cent net passing yield.
The 2416 square metre building, leased to international bank MUFG, occupies a 2635 sqm strata title holding, zoned E4 General Industrial.
At 1/15 Percy Street, there are also 28 car parks.
Ray White Commercial’s Kamal Silwal represented the sellers, three partners, two who held through superannuation funds.
It previously traded in late 2014, for $3.51m.
1/15 Percy Street
Recently refurbished, 1/15 Percy St was offered with a lease expiring 2030.
All outgoings are paid b the tenant.
“Following a detailed assessment of market conditions, the vendors decided to bring the property back to market,” Mr Silwal said.
“The transaction marks one of the strongest results for a strata industrial property in the Auburn area reflecting continued demand for secure, high quality industrial investments in Sydney’s western corridor,” he added.
Auburn is about 16 kilometres from Sydney’s CBD.
Subscribe to our newsletter at the bottom of this page.
