GDI sell Ashfield Sale on 6.6% yield
GDI has settled the sale of 223 – 237 Liverpool Road, Ashfield, for $46.0 million, a $11.0 million premium over its December 2015 purchase price of $35.0 million. The purchaser, a private Asian buyer.
The 5 storey commercial office building contains 9,719sqm of office space. The building sits on a prominent 2,812sqm corner site within close proximity to Ashfield railway station and local shopping centre. The building is fully leased to Property NSW (Dept. of Family and Community Services) with a WALE of 2.5yrs and a net income of $3,057,948. The purchase price represents a yield of 6.65%.
The deal was brokered by Knight Frank’s Tyler Talbot and Dominic Ong in conjunction with Savills, on behalf of the GDI No 42 Office Trust.