Canning Vale unit sells off-market for $685,000

AN interstate investor has bought a Canning Vale unit for $685,000 (sold as a going concern) after a successful off-market campaign at 13/44 Vinnicombe Drive.

The property, that came with a 600sq m* building size, was leased on a seven plus five-year deal and was sold on a 7.1 per cent yield.

The asset was marketed and sold by Ray White Commercial (WA) Sales and Leasing Agents Josh Sumner and Lachlan Burrows.

“The property was so appealing because it was a leased investment under $1,000,000 and was sold after a targeted off-market database-only campaign,” Mr Sumner said.

“We have multiple local and interstate investors looking to secure assets providing an attractive yield and this one certainly ticked all the boxes.”

“There is a shortage of quality leased investments in the area, leading to hot competition on new stock that comes to market,” Mr Burrows said.

“It’s tenanted by a local entrepreneur with multiple national and international businesses under the one roof, utilising the property as the head office for all their business ventures.”

*Approximately.