Commercial buildings in Sydney CBD

Has anyone brought any buildings in the CBD Sydney recently?
Trying to work out the expected yield on 724-728 George St
Its only a small building (557m2) and with a rent roll of $1.3m (Wale 5yrs) its quite within reach of most of us small investors

 

Whats your definition of small investors?

 

If Beano is considered small, you and me are micro investors.

 

I've got an unusually shaped white building for sale at Bennelong Point if anyone is interested.

 

Its not that bad. Lots of parking around

 

Dazz is here.....

 

Small investors under $5m
Medium investors under $10m
Large investors over $10m
Corporate ,syndicates , super funds, business listed property companies would be well over $50m
Pa net rentals ex gst

 

@Beano the rent is 2300 bucks a metre. Is it retail only or are there also offices if its multi level?

Edit..... by your definition it is more than large. Even at 10 million it's yielding 13% which aint happening in George street central Sydney IMO.

 

Ground floor retail upper level office
Hoping for the IM later this week

 

Looked at one a little out of town recently in Regent St. Gross yield was 7.6%
Imagine closer in would be a bit lower again.

 

I'd say 5.5-6% tops, that'd bring it in around $20M+ (feels a little high though)

 

Thanks
I would imagine whole properties around $20m would be pretty popular as very affordable to many of us small investors

 

Nah, I won't get out of bed for anything less than 50 mil.

 

@Beano - $10-25m is of interest to syndicates and small or unlisted trusts. Mums & dads are generally capped out of these.

 

Didn't you just say small investor was up to $5m?
Things like petrol stations, medical centres etc etc appeal to small investors.
$20m CIP appeals to managed funds and ummm really rich people

 

he said a property getting $5m in rent is accessible to small investors, which of course
is ridiculous when you consider it will almost certainly be worth over $50m and potentially significantly so

 

Oh whoops did not read last line.
Well then ..... I will say that I don't agree with @Beano
$20m of CIP is no small investor.

 

@Beano I'm staying nearby. Walked past this morning. It's Haymarket end of George street. Downstairs is HSBC and looks like offices above. It is a corner and has good width but not very deep. I imagine 5 to 6 % cap tops depending on the pockets and emotion of the prospective purchaser.

I don't consider 20 to 25 million to be in the realm of a small albeit commercial investor. Certainly beyond my pockets. To be safe you would need a deposit or security title value of circa 8 million.

 

Do I qualify as a small investor? I am 5' nothing