A successful $9.28 million sale of a Gladstone office building is just the latest result from collaboration between Ray White Commercial Queensland agent John Dwyer and Ray White Commercial Gladstone principal Andrew Allen.
20-22 Herbert Street in Gladstone’s CBD was sold via expressions of interest campaign, purchased by property fund manager Natgen.
The seller was a Brisbane based private investor with whom Mr Dwyer has had a long standing relationship.
The multi-storey office retail building returns $670,000 net per annum, underpinned by a strong 7-year lease to the State of Queensland. The sale represented a 7.24 per cent yield.
“This sale reflects the strong demand for secure regional investment assets, which offer attractive yields,” Mr Allen said.
“The campaign generated multiple enquiries and several written offers by the EOI date; as part of the offering, a three year rental guarantee was provided.”
Mr Dwyer, based in Brisbane, said that this isn’t the first time he and Mr Allen have worked alongside each other, to maximise efficiencies during a marketing campaign and in this case, the due diligence process.
“When I am engaged to market a regional property, I truly value having someone from the local market working alongside me; whether it is to conduct an inspection or provide ongoing local area knowledge,” he said.
“You are working with someone who has genuine intimate expertise in the area; Andrew knows exactly what is happening in Gladstone with industry and commerce,”
“From our office in Brisbane city, we prepare the marketing material and provide the vendor reports during the marketing campaign ,” he said.
Mr Dwyer has also worked in a similar capacity with local Ray White agents in Emerald, Mackay, Rockhampton, Maryborough, and Toowoomba.
Ray White Commercial Queensland
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