Wahroonga Westpac sells at Burgess Rawson auction

Wahroonga Westpac sells at Burgess Rawson auction
Wahroonga Westpac sells at Burgess Rawson auction

The Westpac branch at Wahroonga on Sydney's north shore has been sold through Burgess Rawson on a tight yield of 5%.

Securely leased to Westpac until 2018 with options to 2028, it fetched $3.85 million.

It was a 271 sqm part two storey freehold building with on-site parking.

The Burgess Rawson marketing agent Simon Staddon said it came with "attractive annual 5% rent increases."

"The bank pays 100% of outgoings as per lease."

It's net income was given as $196,983 pa + GST.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Property News Commercial Sale

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