Sydney investor buys Charmhaven industrial

A Sydney investor has paid $1,480,000 (GST not applicable) for an industrial investment property at 23 Arizona Road, Charmhaven providing a 8.2% return.
The property of 2,221 sqm comprises an L-shaped concrete panel and metal clad factory of approx. 1,023 sqm plus office and amenities block of 278 sqm over two levels and concrete yard. It includes a 5-tonne gantry crane and 3-phase power.
It is leased to Ausreo Pty Ltd in August 2017 on a 1 year lease with 3 x 1 year options at a rental of $122,000 per annum plus Outgoings and GST.
The lease and subsequent sale was negotiated by Chris Watson from Chapman & Frazer Real Estate.