The site of Officeworks, Bunbury has been sold for $4.25 million, delivering a yield of 6.25 per cent.
The sale was brokered by Knight Frank Directors Andrew Woodley-Page and Todd Schaffer.
“The property was extremely well received in the market with over 100 enquiries generated from local and national buyers during the Offers to Purchase Campaign, the property was purchased by a Sydney-based private investor,” Mr Woodley-Page said.
Mr Woodley-Page said the prominent corner site, national tenancy and strong rent review mechanism had made it an ideal investment.
“Bunbury is the major city in one of the fastest growing regions of Western Australia and its population is expected to reach 230,000 residents by 2026,” he said.
“It is the entry point to the state’s south-west and is internationally recognised for its wine regions and tourist attractions.”
The 1,513 square-metre facility sits on a 3,024sqm site located at 42 Wittenoom Street.