This property is located at the busy Waterford intersection of Kingston Rd, Albert St and Nerang St. The property is highly visable and easliy accessible for vehicular traffic and pedestrians. The site is within 100 metres of the Waterford State School and is opposite a BP Service Station.

The property currently has two commercial tenants paying a total gross rent of $46,516 exclusive of GST, the Owner has advised current total outgoings are $6,500 including rates and insurance.

New development throughout Waterford ensures high traffic volumes throughout the area.

There is opportunity for further development on site in addition to the existing buildings

Block is 1051sqm; the main building is a lowset timber construction with corrogated iron roof and weather board cladding approx 150sqm (houses the two tenanceies); free standing main shed at rear is a colour bond steel high bay shed approx 60sqm; free standing small weather board shed is used for extra storage approx 18 sqm.

Tenancies:

Tyre Business – both sheds and part of main building; month to month lease but have been a tenant for 7 years.

Takeaway Food Business – balance of main builind; 5 year lease with 2x 5 year options (first period expires 9/1/16.

The original building are old and in poor condition though the property operates effectively in it’s current condition.