That was an act of necessity-you wouldn't have bought it if you hadn't run out of your lease, and now you want to sell out ASAP.I thought my comm property should count as an IP ?
In 2014, my project will be sell the comm investment property if I can get an appropriate price.
You've been wanting 8%+ returns, long leases, good growth and good strong tenants. Properties like that are extremely rare.
I've heard it said- "Good returns, strong growth, safety- pick any two". I think you want all three. The comm property you've got, you miss out on the growth- you have one tenant who is unlikely to skip out on you.
A resi property typically offers growth and safety (although sometimes not even these). IMO you're better off with a well chosen property in a strong demand area with returns a little less than bank interest loans. Some would recommend a positively geared property, possibly foregoing some growth or safety- but you still wouldn't get 8%.