Main road frontage, offering 7.5% return plus outgoings.
The freehold is for sale only – excludes business fixtures and fittings. Freehold is offered on the basis of:
- A 5 year registered lease plus an option for a further two 5 year terms.
- 7.5% yield with annual CPI increases and a market increase/adjustment at the end of each 5 year term.
- The tenant will pay $47,250 + GST for the first year in equal calendar monthly payments of $3,937.50 + GST for the first 12 months. The tenant will pay all outgoings.
There are two sheds, 12m x 12m with two lined offices and a reverse cycle split system air conditioner, three-phase power, central evaporative system, ceiling fans and lighting.
The large shed at the rear is 22m x 15m x 4.9m high, with hot water facilities plus toilet and shower. There is also a 2m x 15m lean-to section at the rear with storm water provisioning and a 7m x 12m high roof verandah. Once again three-phase power. Also a two-room solid brick section with concrete roof, which is utilised as a paint store.
The land is also connected to an EPA approved wash down facility with grease arrestor and holding tank which then flows into the CED system. Mains water is also connected.
The property is well situated in the appropriately zoned area surrounded by commercial business with valuable Main Road frontage on just under half-acre. Furthermore the business has been trading with the same owner for 30 years.
Chris Weston 8388 4002 – RLA173455