The Brief
Our client was seeking a commercial investment that combined reliable income with long term upside.
The brief was clear: secure a tenanted NSW property with a yield above 6%, a long lease to a quality tenant, future development potential and exposure to a growing regional market.
Our Approach
We targeted off market opportunities where competition was limited and value could be assessed without the pressure of a public campaign.
Through our commercial network, we identified a freehold property leased to Reece Plumbing and completed due diligence on the lease, tenant covenant, zoning and local market fundamentals before recommending the acquisition.
The Property
A freehold commercial property positioned in the centre of Grafton.
The site comprises approximately 2,600sqm with a combination of showroom and warehouse improvements. The property is leased to Reece Plumbing on a 5 + 5 + 5 year lease with annual CPI increases.
The tenant pays 100% of the outgoings, providing a secure net income stream, while the MU1 Mixed Use zoning offers future development flexibility.
- National tenant with strong covenant strength
- Fully renovated improvements completed in 2015
- Highest performing Reece branch in the Northern Rivers region
The Outcome
- Exclusive opportunity not offered to competing buyers
- Strong regional location supported by ongoing infrastructure investment
