Record Strata Sale $6,750,000
– Largest commercial sale in Norwest history to date
– 4.7% Net yield with major bank tenancy
– Strong demand continues for major assets $5,000,000 +
Greg Langford, Director of Thiink Commercial has transacted the largest commercial strata sale in the history of Norwest Business Park with a passing net yield of 4.7%.
The transaction was sold “off market” to a private investor seeking commercial property with a good long-term lease in place with a Bluechip tenancy profile.
The asset is positioned on the top floor Lexington Corporate (24-32 Lexington Drive, Bella Vista) with central core building services with an anchor lease to Westpac Bank, Husky & a local law firm.
Greg Langford who advised on the sale noted “strong demand for commercial investments continues fuelled by lack of market supply, newly built rail infrastructure and the increasing awareness of Norwest as a business hub in the Sydney marketplace.
Thiink Commercial is quickly establishing itself as the expert in major sales within Norwest marketplace and surrounds, completing all 3 of the top 3 major sales in 2017 circa $5,000,000 and above.