History up for sale

Wednesday 18 April 2018

The ANZ building is on the market with a Sydney realtor believing that strong interest from locals and capital city investors alike will drive the price at auction.

History up for sale. The ANZ building is on the market with a Sydney realtor believing that strong interest will drive the price at auction.

Burgess Rawson Associate Director Rhys Parker said the building located at 384-386 Argent Street has a new four-year lease plus options to ANZ who have been in the location since 2007.

“ANZ is one of the top five companies in the country and it’s located on arguably the best corner in Broken Hill,” he said.

Mr Parker said the return on the property is $140,000 per year and the fixed rental increases mean there is guaranteed rental growth on offer.

“There has been a good amount of interest, investors understand the unique underlying real estate attributes that Broken Hill provides.

“There is strong security of income from the investment as the bank serves a significant catchment from around the Broken Hill area.

“There is a wide customer catchment which makes capital cities investors interested in the property.

“We’ve also had a few locals talk to us about the property and expect more local interest throughout the marketing campaign.

“It’s easily managed as far as investments go.”

The auction for the building will be on May 8 at 11am at Doltone House Hyde Park, Sydney.

Mr Parker said Burgess Rawson have a proven track record of selling commercial investments and conduct their business Australia-wide.

“We’ve sold a couple of banks in Broken Hill and have previously sold this one as well.

“We have a lot of experience and understand the benefits of well leased commercial investment properties in Broken Hill.”

If anyone was interested or wanted to ask Mr Parker any questions, he can be contacted on 0451 101 142.

To find out more about the properties in our portfolio, and how we can help you with sales, leasing and property management services, please contact us.

Originally published in the Barrier Daily Truth