SOLD

LOCATION: The township of Raymond Terrace is located approximately 190kms north of Sydney on the Pacific Highway and approximately 30kms northwest of the city of Newcastle. The subject property has a commanding presence in a prominent position in the centre of the CBD

SITE AREA: Approximately 500m2

DESCRIPTION: Substantial two storey brick and tile building offering ground floor, occupied by the National Australia Bank, and additional retail/commercial space on the 1st floor which can be let to an additional lessee

BUILDING AREAS: Ground Floor – 337.7m2 (occupied by National Australia bank)
First Floor – 150.2m2 (Currently available for lease)
TOTAL AREA – 487.9m2 (As per plans supplied)

TENANCY DETAILS: National Australia Bank – ACN 004 044 937 (Ground floor only)

TERM: 10 years expiring on the 31st October 2024

OPTION: Three (3) 1 year option periods

RENT REVIEW: Annual CPI reviews with Market Review upon 1st option period

OUTGOINGS: National Australia Bank pay 73% of outgoings excluding Capital Costs
• Upon leasing of the vacant 1st floor the new lessee would be expected to pay the additional 27% of outgoings dependent upon negotiations

CURRENT RENTAL: $80,473 GST exclusive per annum for ground floor only + 73% of outgoings. (The vacant 1st floor is currently advertised at $20,000 per annum GST exclusive plus 27% of outgoings

STATUTORY OUTGOINGS: Land rates (1/7/22 – 30/6/23) $5,806.76
Water rates (based on previous 3 accounts) $1,441.49
Insurance GST inclusive (paid by lessor) $5,539.00



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