The lot is strategically located with a 90m frontage on the main arterial Shute Harbour Road, which serves as the entrance to the growing and thriving Whitsunday Region, providing high visibility for the property.
Lot 1 on SP 165637 is 699 sqm, has a leased Showroom and Warehouse to the anchor tenant, Rewards Hospitality.
Lot 2 on SP 165637 is 195 sqm, has 10 Storage Sheds each with a size of 17.5 sqm, leased to various tenants on medium-term agreements.
The balance land, which is developed with a leased Warehouse storage shed to Rewards Hospitality, comprises the common property, and it has a size of 5,778 sqm.
The property is being sold as one line, and the buyer, as the owner of both lots, will have the opportunity to modify the body corporate structure to allow future development of the common property balance land.
Rewards Hospitality, a subsidiary of the ECF Group, is the anchor tenant that has been operating for over 35 years and has 26 locations across Australia. Rewards Hospitality provides services to various regions, including the Whitsunday Islands, Airlie Beach, Proserpine, Bowen, Collinsville, and the greater Bowen Basin region. The current lease agreement with Rewards Hospitality is for five years, expiring on 39 September 2025, with three options of three years each.
The property also includes 10 storage sheds, which are mostly leased for long term agreements and are easy to manage.
$167,000 Net p/a Return With Potential For Further Development.
The property is zoned as Low Impact Industrial, and it consists of two separate freehold lots and common property, which are presently configured as a small body corporate.
An Information Memorandum is available upon request. For further details, contact Brett Dwyer at 0447 583 759 or brett.dwyer@raywhite.com.
