logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Our website uses cookies and other technologies so that we can remember you and understand how you and other visitors use our website. By continuing to browse this Site, you are agreeing to our use of cookies. Click here for more information on our Cookie Policy, including how you may control the information we collect about you through cookies.
Read More
Accept
Australia
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management (CBRE Global Investors)
      • Property Management
      • Valuation & Advisory Services
    • Industry & Specialties
      • Agribusiness
      • Build-to-Rent
      • Building, Depreciation & Cost Consultancy
      • Government Real Estate Advisory & Transactions
      • Hotels
      • Industrial & Logistics
      • Office
      • Residential
      • Retail
      • Retirement & Healthcare
      • Sustainability
    • Services for Investors
      • Debt and Structured Finance
      • Host
      • Institutional Investments
      • International Investments
      • Investment Accounting & Reporting Solutions
      • Investment Advisory
      • Structured Transactions & Advisory
      • Leasing & Advisory
      • Metropolitan Investments
      • Property Management
      • Property Sales
      • Recovery & Restructuring
      • Valuation & Advisory
    • Services for Occupiers
      • Enterprise Facilities Management
      • Host
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Sale and Leaseback
      • Structured Transactions & Advisory
      • Transaction Management
      • Valuation & Advisory
      • Workplace
  • Properties
    • Agribusiness
      Hotels
      Industrial & Logistics
      Institutional Investments
      Metropolitan Investments
      Office
      Residential
      Retail
  • Research & Reports
    • About Research
      Australia Research Archives
      Asia Pacific Research
      Global Research Gateway
  • People & Offices
    • Executive Committee
  • About CBRE
    • Careers
      Case Studies
      Client Tools
      Corporate Information
      Corporate Responsibility
      Expert Opinions
      Investor Relations
      Media Centre
      Open the Door
      Podcasts
      The Place Makers

Previous

CBRE Group, Inc. reports robust revenue and adjusted earnings growth for the full-year and fourth-quarter 2015

Next

Private investor secures million-dollar treat in WA investment hotspot
  • Home
  • About CBRE
  • Media Centre
  • Off-market sale for leased investment property

Off-market sale for leased investment property

3 February 2016
  • Email
  • Share
  • Tweet
  • Share

​Adelaide, 03 February 2016- A fully leased investment property has sold in an off-market deal for $2.275 million.

979 North East Road, Modbury, comprises approximately 420sqm of custom designed medical office space with onsite car parking for 16 vehicles.

The well positioned property had been refurbished by Hummingbird Homes and has a brand new 10 year lease to Adelaide Cardiology, a highly desirable medical tenant who are part of the Genesis Care group, the nation’s largest provider of cardiology, radiation oncology and sleep services.

Ben Heritage and Will Brown from CBRE sold the property on behalf of a local developer, Daniel McOmish of DJM Holdings, on a yield of 6.4%. The purchaser is a private Adelaide syndicate managed by Lauren Price of Stevens Partners.

Mr Heritage said that given the price point, strength of tenant and the return on offer, the off-market transaction was sold in a matter of weeks.

“This transaction shows the strength of the Adelaide market given this particular asset attracted not only local interest, but interest from around the country. It’s a matter of introducing the right products to our investors and facilitating the deal,” Mr Heritage said.

“Investors just aren’t getting the returns they would like by having their money sit in termed deposits or by playing the share market, and we haven’t seen record low interest rates like this ever before, and may never see it again in our life time, therefore buyers are continuing to take advantage of the current opportunities.”

Mr Brown said the developer purchased the site with an end tenant in mind and did a complete refurbishment of the existing premises.

“It’s a testament to the developer of the quality of work and his ability to deliver on the end product,” Mr Brown said.

“We have already seen in the first few weeks of 2016 that the Adelaide commercial property market is going to experience some continued growth and strong results, especially with leased investments that meet the key fundamentals of long term leases, blue ribbon locations and premium tenants,” he added.

For Australian/international news or global stories, follow us on Twitter.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.​

Media Contacts

Kathryn House Headshot
Kathryn House
Communications Director
Pacific
+61 2 9333 3585
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • Case Studies
  • People & Offices
  • Executive Committee
  • Investor Relations
  • Contact Us
  • Australia Privacy Policy
  • Privacy Policy
  • Australian Job Applicant Privacy Policy
  • Sitemap
  • Terms of Use
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • Youtube