TENANTED INVESTMENT

The location is the Ocean Beach Resort Commercial Building
Positioned on the main road form Agnes to Seventeen Seventy
Significant holding for investment or possible owner occupancy
Solid concrete block and suspended slab rendered construction

Lot 28 – 536 sqm Restaurant Bar and Catering Facility
Approved Use – Catering Premises
Current Tenant: Drift and Wood Restaurant
Size 302 sqm internal total 536 sqm including external
INCOMES
Current Rent: $65,500 pa
Sinking $944.46 + $954.99 = $1899.45
Net Income after Sinking fund: NET $63,600.55
Rents to increase 1/7/20 – 30/6/20: NET $77500.00
2 x 5 year options
CPI increase years 2 – 5 on options

LEASE DETAILS
100% Outgoings payable by tenant
Rates $4645.63
Body Corporate Admin and Insurance $9990.18 + $11,057.67 = $21047.85
Total Outgoings payable by the Tenant $24052.88
Total Cost Rent plus Outgoings $87653.43
Total Cost estimate in 2021 $102500

DUE TO COVID 19 REDUCED RENTS MAY APPLY TO THE LEASE

For a full IM contact Gordon Christian today.