Prime City Fringe Investment – 6% net yield

78, Docker Street, RICHMOND, VIC, 3121

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370.00 m2

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Overview

Potential for future development up to 18 metres#

GrayJohnson is pleased to offer for private sale this attractive commercial freehold securely leased to an advertising and design agency.

The property is located just 50 metres* from the most popular stretch of Richmond’s busy Swan Street, in an area increasingly sought after by creative businesses.

The striking contemporary interior features lofty ceilings, polished timber floors and painted brick walls. Skylights flood the space with natural light.

The split-level building is currently configured as open plan workspace, plus a board room, meeting room, management offices and modern entrance foyer.

With a brand new 6-year lease in place, the property is returning $191,705 pa net + GST^ with annual reviews of 3.75%, making it a first-class addition to any property portfolio.

The opportunity:
> Smart, split-level creative office
> Building area 370 sqm*
> Land Area: 175 sqm*
> Returning $191,705 pa net + GST^ with annual reviews of 3.75%
> Bank Guarantee: 4 months’ rental + GST
> Board room, meeting room, management offices and modern entrance foyer
> Ample natural light
> Fully refurbished converted warehouse
> Zoned Commercial 1

The location:
• Just 50 metres* from busy Swan Street
• Close to trendy eateries including Gelato Messina, Grill’d, Untitled, Feast of Merit.
• Brand new Coles supermarket nearby
• 13 minutes* to the city via Swan Street tram
• 2-minute* walk to East Richmond station
• 8-minute* walk to Richmond station
• 15-minute* walk to the MCG

^As of Aug 2023
*approx
#STPA

Key Details

Status

Sold

Type

Offices

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Their interests are our priority

Di & David Haggett

Communication throughout was first class. They helped us understand the market, our options and fought hard to get us a great price. We would highly recommend GrayJohnson if you’re looking for a commercial property partner.

Peter Kirkpatrick

Charter Keck Cramer

To date, they have achieved just shy of $20 million in sales, for 27 properties and have just been appointed to sell another. We wouldn’t hesitate to recommend Matt, Rory and their team at Gray Johnson to sell your commercial property.

Egbert Pereira

EPA Group Accountants

Matt was exceptional. He helped me understand the commercial market challenges, seller expectations and intricate purchasing processes at auction to secure the purchase. Promptness and clear communications were some amazing visible qualities.

Tony Licciardi

Safetynet Investments

Thoroughly professional, they keep you informed through out the leasing process, they will do the hard yards to secure a tenant that will suit your premises. I cannot highly recommend GrayJohnson any more for they work hard to achieve the best outcome for their clients.

Edward McDermott

DCM Lawyers

GrayJohnson were able to find us our new offices quickly and diligently. They continue to be professional and reliable in the management of our tenancy and are always available to assist with any matter if required.

Matt Marshall

Smart Freight

Rory White helped us sell our offices in Richmond. He was professional, accessible and passionate about getting a good result (which he did). I would definitely use again.

Trent O'Sullivan

Balance Advertising

I loved the fact that they had my back, negotiated hard and kept me up to speed through the whole process. The fact is they know what they're talking about, they have the insights and I benefited from that.

Sonya Miller

Armitage Jones

We would like to put on record our genuine appreciation and commendation for the services provided by the GrayJohnson sales team. The final negotiations were handled with the utmost professionalism and skill.

Matt Power

Balance Property Partners

GrayJohnson achieved two property sales in difficult markets with limited buyers and a difficult finance/banking environment. In both cases, Matt, Rory and the team at GrayJohnson worked hard to ensure a result for both vendors.