Another Strong City Fringe Off Market Sale by GrayJohnsonMonday, March 26th, 2018
GrayJohnson is experiencing strong demand for investments; more particularly, in the city fringe. This has been demonstrated with the off market sale of 6 Duke Street, Abbotsford.
The property was sold with no formal marketing campaign. The property was sold for $2,260,000 ($6,342 psm) with a lease in place to Moondog Brewery.
The lease details are:
Term: 5 + 5 years
Rental: $82,000 pa Net
Reviews: Fixed annual increases to 4%
The sale represented a sharp yield of 3%.
Abbotsford is the suburb to watch …
We expect moderate growth in commercial rentals, with a strong escalation in capital prices as Abbotsford catches up with other strong performing suburbs such as Richmond, Cremorne and Collingwood.
If you would like further details on this transaction please contact Rory White, Matt Hoath or Brett Simpson.