Nautilus purchased this distressed asset, which was 50% leased, in July 2013 for $10 million. Outstanding issues were addressed, the buildings were refurbished, remarketed and re-tenanted with 100% occupancy gained.
The property was sold for $17.45 million one and a half years later for a 75% gain on the property and reflecting a yield of 8.94%. An outstanding return on the property after 18 months.
Description: Multi-building industrial complex comprising 10 industrial buildings varying in size from 573sqm up to 3,500sqm.
Value $17.45 million
93 Burnside Road, Yatala Queensland 4207, Australia
Nautilus Investments Corporation Pty Ltd authorised representative AFSL Licence Number 475072
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