SOLD

Wonderful opportunity for small investor to secure a Torrens Titled property with versatile improvements and on-site parking at rear for 2 vehicles, accessed by Private Road.

The property is securely leased to a quality Tenant for initial fixed term of 2 years commencing 01/01/21 and expiring 31/12/22, with 2 options to extend available, each for a further term of 3 years.

Current rent is conservatively set a $26K PA + GST with yearly rent reviews in all years by 3%, except that a market rent review shall apply at commencement of the 2nd extended term or on 01.01.26, if lease is extended at that time. In addition to payment of rent, Tenant is responsible for payment of all Statutory Charges (excluding State Land Tax), and Tenant is also obliged to reimburse the Landlord for Building Insurance Premiums. The security for the lease also includes a Bank Guarantee in the amount of $7,150.00.

The Sale of the property will be treated as sale of a going concern, therefore GST will not apply and the current lease will be assigned in favour of the Purchaser at time of Settlement.

The opportunity to purchase Commercial/Retail property in this price range with future developmental potential to add improvements at upper level (STNC) is rare.

The property is available for sale and purchase at a price of $750K and that price is firm.


For further information contact Exclusive Selling Agents, George Zogopoulos, 8410 6444 or 0412 824 278.