Tidy central investment with a long standing tenant.
Returning $56,258 per annum, and with CPI at the end of 2022 when a right of renewal also falls due. There are four further rights of renewal taking the lease through to December 2037, with market rent reviews at each renewal.
A mix of showroom, workshop, mezzanine offices and covered carparks, this 1960's concrete block workshop with a building score in the order of 70% NBS, is a versatile building that is well suited to its current tenant, and others if need be.
This property has excellent access, with roller door & covered parking access to Clyde Street, and roller door access to the service lane at the rear.
The building is in a very tidy condition, with a new roof installed in 2018 and recent external paint of the front & rear facades.
Investment highlights:
• Long standing tenant
• Returning $56,258 per annum
• CPI rent review at the end of this year - providing immediate growth
• Market rent reviews every 3 years
• Excellent location
• Adaptable building
• NBS score in the order of 70%
Please note: My Vaccine Pass verification is not required to view this property.
For sale by Auction, 5:00 pm Wednesday 6 April (unless sold prior).
Our auctions are conducted online only. Register to bid and/or watch the auction live with GAVL (click 'follow listing' to be notified when the auction goes live). https://x5u9a.app.goo.gl/dYNm
