ANZ Bank Hampton East Property Achieves Premium Sale Price – Burgess Rawson & Colliers
ANZ Bank Hampton East sold through Ingrid Filmer, CEO of Burgess Rawson and Yvonne Zhou from Colliers Asia Markets.
Burgess Rawson together with Colliers International are proud to announce the successful sale of ANZ Bank, Hampton East. Under instruction from specialised commercial property divestment advisor, Advise Transact the property was sold under auction conditions following a successful marketing campaign.
Ingrid Filmer, CEO of Burgess Rawson, commented on the sale: “The sale of the ANZ Bank Hampton East property underscores the confidence investors have in high-quality assets. It’s a testament to the lack of supply of decent investment properties with the result here being achieved despite it being in a non core shopping strip and with a lease of less than 5 years to ANZ.”
“The property was the first under the hamper in Portfolio 163 which transacted over $60m in commercial assets” Ms Filmer continued.
The property was sold to a Sydney-based private investor who was the successful last-standing bidder after an on-site auction conducted by David Scholes, the property sold for $3,550,000 reflecting a yield of just under 4.5% and a building rate that exceeded $10,000 per SQM.
Investors were attracted to the future growth for the property owner is secure, with a fixed 4% annual rent increase. ANZ has taken on all outgoings, including land tax, under the ‘net lease terms’, making it a desirable investment opportunity.
Yvonne Zhou from Colliers Asia Markets commented, “We were pleased with the outcome achieved through the auction process and with multiple bidders on the day. It was clear to see that local, interstate, and Asian-origin investors remain keen to research, participate, and secure sub $5m properties leased to high-quality retail tenants throughout Metropolitan Melbourne.”
The property secures an annual net income of $160,000 + GST, making it not just an attractive but also a lucrative investment.