Case Studies

5/47 Steel Place, Morningside

A private investor has purchased this 180m² tenanted strata unit, located in Morningside.

Currently leased to Hospitality Design & Concept (HDC) who specialises in commercial fitouts delivering fitout solutions to hospitals, offices, gyms, cafes and restaurants.

Tim Langford of Wright Property had this listing exclusively whilst Sean O’Connor of Ray White Industrial introduced the buyer who he had previously worked with on another investment sale that ultimately fell through.

Both agents came together in this instance to ensure that both the seller and the purchaser remained comfortable throughout the sale process and offered their full support and assistance where required.

Without any major obstacles, the sale progressed through its due diligence and unconditional stages well, leaving both parties in a beneficial position at settlement.

Sales Analysis*
Method of Sale:Private Treaty
Sale Type:Tenanted Investment
Sale Date:15th June, 2015
Number of Bids:N/A
Starting Bid:N/A
Sale Price:$410,000
Passing Yield:7.5%


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