A LEASED investment in Rockingham’s city centre has been snapped up by a local business owner for $1,090,000 at 4/23-25 Chalgrove Avenue in the South Coastal region.
The asset, which came with a 382sq m* build area, has been home to Atwork Australia Pty Ltd since 2015 and was sold on a 7.7 per cent yield.
The property was marketed and sold by Ray White Commercial (WA) Sales and Leasing Agent Enrique Reyes.
“The fact this asset was leased to a national tenant – and has been for five years and has another three-years left in the term – really appealed to potential buyers,” Mr Reyes said.
“The general market has been relatively slow in Rockingham, but leased investments are most definitely being purchased in the area.
“Both 9 Mackinnon Street, Rockingham, and 2/31 Council Avenue, Rockingham, were leased investments that were marketed and sold recently by Ray White Commercial (WA).
“The offer and negotiations were carried out during the COVID-19 emergency period, and yet, the level of interest was high – a testament to the opportunity that was on offer.
“The seller originally owned three investment properties in the Rockingham area and we’ve now sold two. We will hopefully be getting the next one on the market soon.”