Hi there,
How about this one...
http://www.realcommercial.com.au/cg...er=&cc=&c=92322379&s=vic&snf=as&tm=1252743038
A Melbourne CBD office building whole floor level fully leased on a new 5X5 lease...
Sounds good for just $620k... that's FHOB price territory! (unless it's a mistake and they actually mean $6.2MM?!)
But a poor yield of 5.65% pa, and not sure if this is gross or net?
And not sure who the tenant is? ... could be the Mafia .
And also not sure what ''new lease'' means, ie. what year exactly did it start?
It's 154m2, so ?maybe a small floor plate... which would possibly mean a skinny looking building?!
I haven't been to the CBD much recently, but my vague re-collection is that the corner of Russell and Bourke isn't the nicest part of the city.
Not sure if you'd call it "B" grade CBD office space... or maybe even "D" grade?!
What's the rental/m2 for this kind of office space?
What do you think?
I thought getting a bit of CIP discussion flowing around real life examples of what's on sale now may help the learning process here...
How about this one...
http://www.realcommercial.com.au/cg...er=&cc=&c=92322379&s=vic&snf=as&tm=1252743038
A Melbourne CBD office building whole floor level fully leased on a new 5X5 lease...
Sounds good for just $620k... that's FHOB price territory! (unless it's a mistake and they actually mean $6.2MM?!)
But a poor yield of 5.65% pa, and not sure if this is gross or net?
And not sure who the tenant is? ... could be the Mafia .
And also not sure what ''new lease'' means, ie. what year exactly did it start?
It's 154m2, so ?maybe a small floor plate... which would possibly mean a skinny looking building?!
I haven't been to the CBD much recently, but my vague re-collection is that the corner of Russell and Bourke isn't the nicest part of the city.
Not sure if you'd call it "B" grade CBD office space... or maybe even "D" grade?!
What's the rental/m2 for this kind of office space?
What do you think?
I thought getting a bit of CIP discussion flowing around real life examples of what's on sale now may help the learning process here...
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