Prosper Group Purchases Iconic St Leonards Commercial Building

Prosper Group were engaged by their client to source a commercial investment within Sydney metro commercial locations. After producing a shortlist of opportunities, 154 Pacific Highway, St Leonards, was chosen as their preferred option for the following reasons: rental upside through lifting the current rents to market rates and being on 3,080 m2 of land this is one of the largest commercial parcels on the North Shore. St Leonards is in the process of reinventing itself through all the developments currently underway. This development is expected to continue and the land size and location of 154 Pacific Highway will assist with a potential mixed use re-zoning and redevelopment in the future.

“ It was great working with our long term client in purchasing their 4th commercial investment property. This property is unique being on over 3,000m2 of land, well located with rental upside and future development opportunity, making it a great inclusion to our clients portfolio.” - Alex Henderson, Managing Director

After sourcing the opportunity prior to coming to market, Prosper Group conducted the initial due diligence to assist our client in making an informed decision and position us well for a hotly contested expression of interest campaign. After being selected to enter an exclusive due diligence period, Prosper Group completed the remaining due diligence and advised our client in order to give them the comfort to proceed with the deal. Prosper Group have since been awarded the asset and facilities management for the property.

For more information on the project, please visit https://www.afr.com/real-estate/commercial/st-leonards-office-tower-sells-for-60-million-20180628-h11zxg 

 

Prosper Group are the leading independent commercial buyer’s agent and asset managers. Alex Henderson is the Managing Director for Prosper Group and gets personally involved in commercial and residential property types. Damien Holliday is the Director and heads up our property acquisition team. 

For more information or any media outreach, please contact the Marketing Manager for Prosper Group, Kate Henderson.