Located on a valuable 438 m2 allotment with an approx frontage of 15.2m to busy Musgrave Street and also an approx 4.6m frontage to Armstrong Street, This land contains two lots ( Lot 2 on RP 606405 and Lot 1 on RP 609056)
Erected there on is a commercial complex with a residential dwelling on the first floor.
The complex consists of
A modern single storey Besser Block building ( approx 30 years of age) with a retail area and a showroom area of approx 106m2.
A Besser block storeroom of approx 67m2.
A two storey Fibre cement building with
2 shops on the ground floor of approx 38m2 each and a residential dwelling on the first floor of approx 66m2.
There is also a detached masonry block toilet block of approx 18m2 with separate ladies and gents facilities.
Lease ( A ) that contains the business known as Bar n Brew covers the 106m2 Besser block shop, the 67m2 Besser block store room - This lease is for $26000 per annum plus GST with a lease start date of 23/08/2022 and a lease end date of 22/08/2025 and tenant pays 100% of Council Rates and Water Charges. The lease includes annual CPI increases and there is an option for an additional 3 year lease which would take the lease to 22/8/2028.
Lease (B) contains the business known as Tony the Barber and covers one of the ground floor shops in the double storey building with a floor area of approx 38m2
This tenant is in the process of signing a new lease at $7,800 per annum plus GST for 3 years starting on 1/7/2023 with annual CPI increases plus an option of an additional 3 years
Lease (C) contains the business known as Bar n Brew and covers one of the ground floor shops in the double storey building with a floor area of approx 38m2
This lease is for $7800 per annum plus GST with a lease start date of 23/8/2023 and a lease end date of 22/8/2025. This lease includes annual CPI increases and there is an option for an additional 3 year lease which would take the lease to 22/8/2028.
The residence on the first floor is presently vacant and could be capable of providing an additional income
Existing Gross rent $41,600 per annum plus tenants pay Rates and Water
This is a well located Commercial complex with multiple tenancies and potential of additional income from the presently vacant first floor residence.
If Position is Important to you then don't miss this opportunity to purchase one of the best located commercial properties in North Rockhampton.
