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.
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.