Three factory units all with their own brick offices and toilet. All three tenants are of long standing and are enjoying a low rental. This property has enormous growth potential based on the rental worth.
Net floor area: 800m²
Gross rents: $34,320 pa
Current Outgoings:
Shire Rates: $2,179 pa
Water Corp: $1,983 pa
Land Tax: $317 pa
Insurance: $1,619 pa
Mngmnt(say)$2,000 pa
Total: $8,098 pa
NET RENT: $26,222 pa
Current net rent represent an average of $31 psm – well below the current value of $60-70psm being achieved in the area. There being nothing available for lease – $80-$90psm has every possibility.
Big potential here!
Forget yield! Rents have not caught up with the pace of things. But they will, and soon!
It’s a solid investment property and a rarity. Just stash it away into your super portfolio. This property is true value when you consider it is being offered at $1,038 psm. Strata title potential too!