SOLD

90-96 King Road Murray Upper, Tully, QLD 4854

Investment property for sale. Lease by Muti-National blue chip food company. 100 acers 2 x 3 bedroom house, tissue culture laboratory and nursery

This property is located 25 kl south of Tully in the Tully Murray Valley. This property is used primarily for the propagation of banana's and pineapples. The tissue culture lab is capable of producing some 1,000,000 tissue cultured plants. The lab was built 1 years ago and is fitted out with the latest modern equipment. The nursery also is built and is very user friendly, where the shade roof is removed rather that the plants moved. Its irrigated with the newest fully automated Netafim equipment and has an output of 70,000 every 10 weeks. There are two 3 bedroom houses on the property, well maintained and freshly painted. Numerous sheds are located over the property including a large packing shed and machinery shed. Water will never be an issue with two bores pumping 30,000 gph. The lease is 10 years x 10 years and one year into the first 10 year term. The rent is over the whole of the property and is $101,920 per annum with annual rent increases. If the rent increases at the now 4% per year 20 years on the rent will be $206,471 per year at year end of lease. The tenant pays all maintenance, insurance and rates.