This investment property offers a net return of 8% with a 5×5 year lease beginning on the 16th of May, 2007. The annual rental is $65,100 + GST with an annual CPI increase. Lessor costs are a half share in the annual rates (approximately $5,000/annum in total), building and public liability insurance ($900/annum) and repairs and maintenance to the external areas of the building approximately $1,000/annum).
An additional storage area in the main building of approximately 208m2 is currently rented separately on a periodic tenancy although the owner will lease it back for 3 years at $5,200/annum + GST. This room contains a large strong room (safe).
The main tenant is a rural supplies retailer selling a wide variety of farm supplies including fertilizers and chemicals. Chemicals are stored in an Agsafe compliant storage facility. They have been in the same location for many years.
Location: This property is located on a corner block just on the Western edge of the Ayr CBD. It is a short distance from the heavy vehicle bypass route and railway station. Ayr is 85km South of Townsville.
Area: The land area is approximately 4236m2.
Tenure: Lot 58 on A26512, Lot 59 on A26512, Lot 60 on A26512, Lot 2 on RP722640, freehold and zoned Residential.
Services: Ayr has a population of 8,500 with over 20,000 in the Burdekin Shire. There are several large supermarkets plus numerous other retailers. Townsville has over 180,000 people with a large government and industrial base in the economy.
Improvements: The main building is a large timber retail area with approximately 318m2 of air conditioned show room and counter in the front and 27m2 of air conditioned offices in the rear. This building is approximately 50 to 60 years old and appears in good condition. Adjacent to this is a 995m2 steel shed with a concrete floor and 31m2 of mezzanine floor and separate 47m2 masonry block office and toilet block. All improvements are in good condition and are well maintained.
There are 15 parking bays onsite and the property is security fenced on 2 sides.
Price: $790,000
Contact: Jack Slaney 0427877522, Office 07 47837522, Email ayr@rhq.com.au