Riverside Business Park
AvailableFully tenanted 12,400 m2 commercial campus on the waterfront corridor with 8.1% net initial yield.
Riverside Business Park is a fully tenanted commercial campus of 12,400 m2 across four buildings on the city's waterfront corridor, anchored by two investment-grade tenants on long leases.
The Opportunity
The current owner is consolidating internationally and offers the park below replacement cost. Occupancy has held above 96% for five consecutive years, and passing rents sit roughly 12% under prime comparables — leaving clear reversionary upside at the next review cycle.
- Net initial yield of 8.1% on the asking price
- Weighted average lease term of 6.4 years
- Anchor tenants: national logistics group and a listed engineering firm
- On-site parking ratio of 1:28 m2 — rare for the corridor
Deal Structure
The acquisition is structured through a dedicated SPV. Investors participate from a defined minimum ticket, with quarterly income distributions and standard drag-along protections. Senior debt of up to 55% LTV has been indicatively agreed with two lenders.
Projected Returns
Base case underwriting shows an 8–10% cash-on-cash yield and a projected equity multiple of 1.6x over a five-year hold, before any rent reversion capture.
Exit Strategy
Primary exit via institutional sale after re-gearing the rent roll; secondary route is a break-up sale of the four buildings individually, which comparable transactions currently price at a premium.
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