1819 Lytton Rd, Lytton QLD
1819 Lytton Rd, Lytton represented an exciting opportunity to acquire a fantastic land holding within the tightly held trade coast precinct. Precept secured a new 7-year lease during DD, resetting the rent to a record rate for the precinct, delivering an initial yield of c8%.
Identified off-market, Precept was attracted to the quality landholding, functional improvement, low site cover and fantastic access characteristics being only one turn of the port river expressway.
The Manager will undertake upgrade works to the facility to further improve the property to generate long-term stable income for our investor.
ACQUISITION DATE
July 2023
PROPERTY TYPE
Industrial
GROSS LETTABLE AREA
2,305 sqm
SITE AREA
7,163 sqm
KEY CHARACTERISTICS
- Functional Configuration: Comprising a large regular shaped site featuring full drive around capability
- Secure Income Stream: Leased for 7 years, the new lease deal represents an inital yield of c8%
- Replacement Cost: The acquisiton price represented a 30% premium to land value, depsite a new 7 year lease being in place.
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