Government backed Bowral investment collects $9.5m

The sale price reflects a 4.62 per cent net passing yield.

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.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of