Leighton Sells Johnson and Johnson Mulgrave Office for $8.7 Million
Leighton Properties, the owner of the property, disposed of the 3,600 square metre office warehouse at 6 – 8 Compark Circuit, earlier this week.
The sale price reflects a 10 per cent yield, given the property’s annual income of $870,000.
Knight Frank director Paul Henley, who marketed the property, said “the arbitrage between the cost of money and property yields is compelling and we are seeing a flight to quality by investors from equities into property”.
