19A Boundary Street, Darlinghurst was purchased for $92.75 million in December 2019 and will settle in April 2020.
Fully leased to a variety of small office tenants, the property has an outstanding track record of tenant retention and appeal to smaller occupiers involved in IT, Design, Fashion, Health, PR and Online Business.
Strategically located between the Sydney CBD and eastern suburbs, the property is close to Paddington and Surry Hills and has scarce competition as a consequence of the residential character of the neighbourhood.
The building has a net lettable area of approximately 6,500 square metres over the ground floor and six (6) upper levels with car parking for 51 cars.
19A Boundary Street is a converted warehouse which has been fully refurbished and is airconditioned with polished concrete floors and good natural light and views on all sides.
The property has a forecast average yield of 7% over seven (7) years, commencing at 5.53% in 2020 and rising to 8.52% in 2027.