Government backed Bowral investment collects $9.5m
A federal government backed office in central Bowral has sold for $9.5 million reflecting a 4.6 per cent passing yield.
Five bidders contested for 38 Wingercarribee Street last Tuesday.
The result reflects a 4.62 per cent net passing yield.
Next Commercial’s Anthony Bray, Charles Gonzalez and David McClatchey were the agents.
Centrelink/Medicare Bowral
On 1120 square metres, the Bowral office is occupied by Centrelink and Medibank (story continues below).
The 781 sqm interior was recently refurbished to COVID-19 Work Health and Safety (WHS) standards.
A basement contains 10 parks.
The lease allows for five per cent annual increases.
Bowral, the NSW Southern Highlands’ largest town, is about a 120 kilometre drive south west of the Sydney CBD.
