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Syndicated Purchase Finalised
Syndicated Purchase Finalised
Oyster Group today announced the successful syndicated purchase of $7.79 million commercial premises located at 102 Rosedale Road, Albany.
Structured as a proportionate ownership scheme, the new property is the first syndicated purchase following the recently formed partnership between Oyster Group and Prime Retail Management.
Forty six investors have signed up to the syndicate, each investing $100,000 for an equal share in the property syndicate.
Oyster Group Director, Mark Winter, said the syndication offer was oversubscribed.
“Given the current financial climate this clearly shows that investors see this as an excellent opportunity.”
The two-year old modern office building at 102 Rosedale Road, Albany is fully tenanted with long-term blue-chip tenants including the Ministry of Education.
Projected to provide $712,166 in rental income in its first full financial year – year ending March 31 2012, the property is 2180sqm with parking for 65 cars.
“We’re now looking forward to the next syndicated property investment opportunity we can bring to the market. We are confident that syndicated property can offer a secure investment opportunity,” Mr Winter said.
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