Why this site was chosen:
Long lease (15 years plus options) to a well established operator with over 230 sites nationally.
Negotiation strategy:
These properties typically trade via auction at yield of 4.5% or less. Our goal was to Contract at an attractive fixed price prior to auction and finalise due diligence, going unconditional pre-auction.
Very attractive covenant allowed for profitable “land-banking” of a large site, along a major road, in a suburb with high demographic growth, and minutes away from the very affluent Noosa Shire.
