Acquisition | 10 Ultimo Place, Marsden Park
This is the second and final property purchased to complete the Harmony Diversified Fund 1.
Harmony Property Investments (HPI), exclusive to MRS Property, are pleased to announce the recent addition of 10 Ultimo Place, Marsden Park NSW to the Harmony Diversified Fund in September 2020.
The property was purchased via an Expressions of Interest campaign, brokered by Mr Paul McGlynn of Colliers for $14.07 million, reflecting a yield of 5.41%. Together with the recent acquisition of an office building at 53 Brandl Street, Eight Mile Plains QLD for $12.9 million in March 2020, the total Fund value is now $26.97 million.
The Marsden Park property is located in Sydney’s North West Growth Corridor and comprises a brand new dual tenancy retail showroom and warehouse building, purpose built in February 2020 for two established businesses, the property offered a WALE of approximately 10.5 years at settlement.
This addition completes the Harmony Diversified Fund which will benefit from diversification across differing sectors and states.