Dynamic Brisbane duo launch RWC Gateway
After working together for almost a decade, commercial real estate team Jared Doyle and Jack Gwyn have taken their business to the next level, opening RWC Gateway.
A NSW-BASED investor has snapped up a fully leased boarding house for $2,700,000 after successful post-auction negotiations at 20A Centenary Road in Merrylands.
The asset, that came with 313sq m* of building area and 818.5sq m* land area, was leased to Hume Community Housing Association Company Limited until 01 December 2025.
The property was sold on a 5.5* per cent net yield by Ray White Commercial Western Sydney Director Joseph Assaf, Associate Director Victor Sheu and Managing Director Peter Vines.
Mr Assaf said the new generation boarding house was an ideal investment opportunity that provided a passing income of $163,160* p.a. with CPI increases.
“There was a huge amount of interest in this asset with more than 90 enquiries throughout the campaign and we saw the majority of interest coming from local investors,” he said.
“Potential buyers were attracted to the strong covenant until 2025, as well as the really great connectivity to public transport and shopping amenities.
“With construction completed back in 2018, the property had attractive depreciation benefits, and the land tax exemption for being a boarding house added a further layer of interest.”
Mr Sheu said the asset was in a strong letting area with great cash flow and consisted of a total of 10 rooms, as well as on-site manager’s room and recreation room.
“20A Centenary Road represented a versatile opportunity for investors to secure a property based in a strong-performing commercial hub in Western Sydney,” he said.
“Merrylands and Merrylands West are the local boutique suburbs that provide additional services to the residents and employees of the Greater Parramatta Growth Region.
“With Western Sydney experiencing unprecedented growth, the outlook of key suburbs such as Merrylands have never been more promising.”
Mr Vines said with stocks and shares fluctuating as much as they were in the current climate, it was the ideal time to invest in commercial property.
“With interest rates at an all-time low, having money sat in the bank offers no real return, so the savvy investor is looking to commercial property to increase their return,” he said.
“Even with some uncertainty out there right now, online auctions are still the best way to proceed, as it still generates the competition needed to secure the best price for our vendors.”
*Approximately.
After working together for almost a decade, commercial real estate team Jared Doyle and Jack Gwyn have taken their business to the next level, opening RWC Gateway.
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.