Adelaide, 19 November 2013 –A warehouse at Forestville in Adelaide has been sold off-market for $660,000.
CBRE Industrial & Logistics Services Manager David Ludlow negotiated the sale of the 74 Leader Street property to private investor Mark Gillan
The 325sqm warehouse is fully leased to Adelaide Letterboxes. Based on the current net annual income of $51,200, the sale price translates to a yield of 7.75%.
Mr Ludlow said the property’s prime location, just 5km from the CBD, had been one of the key selling points, offering easy access to Anzac Highway, Greenhill Road and Goodwood Road.
The warehouse is situated on a site area of 697sqm with on-site parking for seven cars.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.