Case Study: 113-119 Williams Road, Dandenong South
Profitable portfolio addition sold for excellent result
A great sale generating a 4% yield
113-119 Williams Road, Dandenong South, recently sold through an Expression of Interest campaign for an excellent result price of $3,618,000 and a 4% yield.
The campaign consisted primarily of digital marketing tactics, including web listings and eDMs, plus an information memorandum for potential purchasers who required more information. Through these tactics, our commercial real estate agents were able to generate extensive interest from potential buyers.
SOLD
$3,618,000
Expression of Interest
09/09/2023
This campaign will be fondly remembered for years to come due to the overwhelming level of activity that the campaign generated from local, interstate and international buyers. The campaign’s impact was so strong, in fact, that we had to work hard to service the amount of enquiry and inspections requested.
With 15 offers at the close of round 1 and a total of 10 signed contracts to present to our vendor at the close of stage 2, all expectations were well and truly exceeded.
113-119 Williams Road, Dandenong South
A profitable addition to the portfolio
With its long list of features, this excellent corner allotment comprised three roller doors and two egress points, providing outstanding flexibility for the occupier. It also included fitted offices over two levels, substantial CT Metering power, and a generous solar power system.
The sitting tenant is on a 5 x 5-year term with the current passing rent of $145,982pa + GST and outgoings – considered below market ($90.89 per m²). It provides scope for strong growth and is endorsed by the subtenant, who is paying $180,000pa ($112.08 per m²), which is still very conservative in today’s market. The current term expires on 14/06/25 when the opportunity for a significant rental lift occurs.
This established property with central industrial positioning was located just off Greens Road and proximate to the Eastlink, South Gippsland Highway and Frankston-Dandenong Road.
