CRS Property Breaks Records at Hillside
It was billed as the ‘Magnificent Seven’ Retail Investments – Seven brand new retail tenancies offered individually and in one line at Auction today.
Having successfully leased six of seven tenancies, CRS Property representatives Myles Snow, Ian Robertson and Lou Montalti were perfectly positioned to market all seven for sale, with each property offering investors or owner occupiers a unique opportunity to either enter the market or make a quality addition to their existing portfolio.
With nearly 100 prospective purchasers in attendance, highly competitive bidding across all assets saw five of the seven successfully sold with the remaining two properties currently under private negotiation.
“Today was just another indication as to how strong the retail investment market is. Having successfully located and placed all of the tenants within this property, we were always bullish about the level of success our vendors would achieve” said Ross Mercorillo, Managing Director of CRS Property.
Lou Montalti Associate Director at CRS Property added “The average yield across the properties was in the 5.55% - 5.65% vicinity, which is a terrific result for these strata titled investments”.
CRS Property’s involvement with these seven assets will continue as a number of purchasers have engaged our services for the ongoing property management. “We look forward to continuing our relationship with the purchasers from today’s auctions by providing a seamless transition for them from purchaser through to landlord and to valued CRS Property clients” said Lincoln McConnell-Brown, Head of Asset Management at CRS Property.
The ‘Magnificent Seven’ properties were marketed by Lou Montalti, Ian Robertson and Myles Snow who would welcome the opportunity to discuss your requirements.
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