GUIDE $700,000 - $725,000

A profitable investment to add to your portfolio; the ground floor of 'Paleface Arcade' is fully tenanted and currently returning over $60,000 in yearly rent.

The 'Loft' is a vast, blank canvas, begging to be converted into loft-style apartments; like many other premises in Temora have been. An owner occupier could enjoy one large apartment, or divvy into multiple units and tap into Temora's thriving short-term stay space. The 'Loft' provides an impressive eastern and western outlook over the township. Restaurants, galleries and function rooms would also work well in this space.


RETURN
Of the 4 commercial tenants (all set to rise in accordance with CPI) 2 of them are in 3x3x3 year leases and the other 2 are shorter term. With 8 commercial spaces in total, 3 of the 4 tenants have chosen to expand their businesses and take multiple spaces. Full tenancy information and associated costs are available upon request.
Situated on an impressive 818sqm, Paleface Arcade offers direct walk through access from the busy IGA carpark to the bustling main street. Multiple off-street parking spaces at the rear are provided for the tenant's comforts, plus tidy tiled male/female/disabled amenities (for tenant and shopper use) are situated at the rear of the arcade.


SCOPE
Further scope for expansion is available in the 'basement' - a wonderful underground time warp; including original safe, cobblestone flooring, imposing timber pillars and quadruple-brick footings. Ripe for an artist; use as a function space; underground restaurant and more STCA (subject to council approvals.)



AGENTS COMMENTS:
One of the most well preserved and maintained commercial properties in Temora - a huge feat, given it is no doubt one of the oldest! A once in a lifetime opportunity to own a slice of history that will well and truly pay for itself; with further scope to add your own touches to the 'basement' and 'loft' spaces if desired.


THE HISTORY
Affectionately known as 'Paleface Arcade' by locals; the John Meagher & Co Building has an enormous presence in Hoskins Street, with anecdotes dating back to its conception in 1892.
Elaborate paraphets, windows and finials are some of the many grand features retained in 'Paleface Arcade.' The building has merged gracefully into the twenty-first century and is still a main shopping and service hub.
You are purchasing the northern side of the building only. The southern side of the building (not for sale) was an extension many years later and titles have since been split.


GUIDE: $700,000 - $725,000 (FREEHOLD, GST NOT APPLICABLE)
Return: $60,000 rent return per annum. Full financials including ingoings and outgoings are available upon request.
Land Size: 818sqm
Legal Description: Lot 1 DP 739521